Swiss Re Marine Client Forum: Peak accumulation exposures - what's in the hold?

23 May 2013

Organised by: Swiss Reinsurance Company Ltd


Risk accumulation is the hot issue for the Marine industry and re/insurers. This is true not only due to ever larger bulkers and containerships, but also for warehouses where fine art and other valuables are stored worth billions of dollars. Recent losses are illustrating that despite increased attention to accumulation issues, there needs to be more focus on the way these risks are being assessed and controlled in the Marine industry and for re/insurers.

The forum will bring together industry experts who will provide valuable insights into the drivers, the assessment and potential approaches to the handling of peak accumulation exposures, catering equally for the needs of hull, cargo and specie underwriters.

Swiss Re will also report on updates to its port accumulation model and the "Landmark Consortium" policy. Swiss Re's port accumulation model is specifically tailored to assess and address the accumulation of cargo vulnerable to natural catastrophes. The Landmark Consortium" policy is a new Swiss Re insurance product that revolutionises the concept of general average and salvage awards in large containership casualties where the current approach has proven too time consuming and costly.