Falling trade across the advanced economies caused by COVID-19 led to many falsely believing that the aggregation and accumulation of exposures at ports was falling too. This was a false view as despite falling trade, there were rising port exposures. In fact, port exposure is very much a significant risk in 2022.
What lessons are there for marine (re)insurers and their corporate clients?
What prevention strategies can corporates employ to reduce their connected trade exposures?
And what can (re)insurers and brokers do to model their accumulation risk during this time of trade disruption?
By actively monitoring these ports as outlined above, marine (re)insurers will be able to manage and understand their ports exposures.
If they do not, then they may find themselves surprised by client claims as this white paper investigates.
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