Summer usually provides a respite for protection and indemnity insurance executives, falling between the hectic renewal season and the accounts number crunching and rate setting of the autumn.

But that is not the case for Nick Shaw, who took over in April from Andrew Bardot as chief executive of the International Group of Protection & Indemnity Clubs.

The former Reed Smith head of shipping is getting to grips with the job as the industry finds itself caught up in the political conflict in the Middle East Gulf.