Page 274 - Demo

Marine insurers are operating in a world that feels fundamentally different from just a few years ago. Rising geopolitical tensions and an increasingly unpredictable global landscape are introducing unfamiliar risks, pushing the industry into uncharted territory and demanding greater resilience than ever before.The outlook remains uncertain. The ongoing conflict between Russia and Ukraine shows little sign of resolution, while escalating tensions in the Middle East continue to disrupt critical shipping routes such as the Strait of Hormuz and the Persian Gulf. These geopolitical flashpoints %u2014 alongside a range of other pressures %u2014 are reshaping risk in real time, adding complexity and volatility to an already challenging environment.Traditionally, marine insurance has focused on physical perils such as collisions, mechanical breakdowns, and weather-related events. While these risks remain, the overall risk profile has broadened significantly. It is now increasingly influenced by geopolitical Marine insurance in a new era of geopolitical uncertaintyby Fr%u00e9d%u00e9ric Den%u00e8fle,President of the International Unionof Marine Insurance (IUMI)Marine insurance268 NX