The marine industry has enjoyed decades of a prolonged soft insurance market, where even accounts with loss activity and minimal profitability saw 10% to 15% rate reductions year over year, low deductibles, low profit sharing thresholds, broad coverage terms, and an abundance of capacity in the marketplace.
However, the sands have shifted, and we’ve seen the market take a significant turn in the first half of 2019. This comes as little surprise on the heels of successive years earmarked by numerous…
