Gallagher is forecasting that rate rises in the marine cargo insurance sector this year might not be as high as feared.
The cargo market has been hardening since 2017, but the insurance broker indicated that improved performance by major underwriters and new capacity coming into the market are easing pressure to raise rates.
In its report Calmer seas after the storm, Gallagher pointed out that many marine cargo underwriters are reporting a profit in 2020...
