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Marine insurance facing difficult times

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Tuesday, September 18, 2012

The International Union of Marine Insurance (IUMI) opened its annual meeting on Monday in San Diego with speakers cautioning the industry continues to face difficult times and warning insurance rates may rise. “Looking around us, the marine insurance industry is facing a pretty bleak ‘present’ with some old and well established – and some newer ones - marine underwriting entities facing downgrading and even closure as a consequence of the economic uncertainty,” said Ole Wikborg, p...

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