Brokers predict more marine exits after Beazley run-off
Marine specialists expect to find replacement cover in the short-term, but predict that more market hardening is on the way.
Brokers are not surprised by Beazley’s decision to place regional marine lines in run-off, and remain optimistic about their ability to find cover in the short-term.
Beazley is pulling out of UK regional cargo, regional freight liability, and regional commercial hull.
James Woollam, managing director at Hayes Parsons, told Insurance Age: “I’m not overly surprised by the decision because it reflects the ongoing challenging market conditions within marine.
“Every week brings about the news of
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