Market conditions for marine navigating and construction risks during the first half of 2010 can be summarised as ‘flat’ with no significant variations in any of the major international markets. Overall the hull market is facing a loss, but this is attributable to a few relatively large claims rather than a large number of smaller claims, which means individual insurers’ results will vary enormously depending upon whether or not they have been involved in the losses. A lack of uniform claims experience has meant there has been no concerted market pressure to increase rating levels. Indeed overcapacity has remained a feature effectively preventing upward premium movement or pressure on breadth of coverage.

Updated as of 27/07/2010.