Heavy claims that have driven the loss ratio of the Lloyd’s of London hull market to 130% to 140% are unsustainable according to top underwriter Iain Henstridge.
Henstridge says the London market is hardening although the trend is uneven and premium reductions are no longer the norm.
Speaking at TradeWinds Marine Risk Forum the Amlin underwriter said increases were even being achieved on “clean” or claims free accounts with at least some shipowners prepared to pay for quality.
Henstridge
