Matt Howard, RSA's Regional Marine Director, UK Commercial, and Calvin Gray, President, Global Marine, Intact Insurance Solutions, provide insight.
A recent history and current impacts
Matt Howard: "Throughout my career in Marine insurance, I have seen many changes due to evolving risks and the solutions developed to overcome them, but no more so than in the last 5 years. The sector has undergone significant adjustment since Brexit, the COVID-19 pandemic, and more recently, through far-reaching geopolitical issues.
"Cover has had to quickly evolve to address the new risks, regulatory changes, and shifting market demands created. As a result, we've seen some of the biggest modifications to marine insurance in living memory."
Post-Brexit adjustments
Brexit created significant regulatory hurdles for insurers operating across the UK and EU. RSA restructured its European operations to ensure good, ongoing service and compliance with differing UK and EU regulations.
"It was no easy task adapting to Brexit," Matt adds. "It was all worth it, however. Our considerable efforts were valued by brokers and their customers affected by this legislative change.
"Increased trade complexities, customs delays, and supply chain disruption also prompted our specialists to refine risk assessment processes. This ensured the marine insurance offered accounted for new liabilities arising from this cross-border trading."
Response to Covid-19 pandemic
The pandemic was another major event that caused major disruptions in global shipping, including port congestion, hold-ups, and cargo accumulation risks. RSA responded by strengthening its risk management services and offering enhanced support to businesses dealing with supply chain uncertainties.
"We adopted digital solutions for underwriting, claims handling, and policy issuance, ensuring greater efficiency and flexibility, providing additional support at this difficult time" outlines Matt.
As the pandemic continued, vulnerabilities in business interruption cover also became apparent. "It was important to adjust our offering and clarify terms and exclusions linked to pandemic-related disruptions. Once again a successful solution was created for our brokers and their customers despite the upheaval."
Now to the present day, Matt adds: "With geopolitical tensions like the Russia-Ukraine war, Middle East conflicts, and increased piracy risks, RSA has refined coverage for war risks, political risks, and supply chain disruptions. We are doing our utmost to provide the most effective marine insurance possible, whatever the situation."
Future risks
Intact Financial Corporation, which includes RSA, carefully assesses significant issues that will impact the future of global marine insurance. Our main focuses include evolving risks, regulatory challenges, and industry transformation.
Calvin Gray: “It’s a fast-moving scenario. Many new and developing factors are affecting world shipping, the services it provides, and the insurance coverage needed.
"One major challenge is the growing impact of climate change, with extreme weather events, rising sea levels, and shifting environmental regulations affecting cargo transport, port operations, and vessel safety. My team is constantly exploring new risk assessment strategies and insurance products that help brokers’ customers mitigate climate-related losses while supporting sustainable shipping practices and compliance with international environmental policies.
"At the same time, the rapid digital transformation of the maritime industry is introducing new risks related to cyber threats and the mounting reliance on automated systems. The growing use of artificial intelligence, smart shipping technology, and data-driven logistics is making vessels and port infrastructure more vulnerable to cyberattacks, system failures, and data breaches. We are evaluating how best to expand our insurance solutions to better protect our customer’s assets and their infrastructure against this increasing threat of cyber risks, and to ensure business continuity for our customers.
"Additionally, changing regulations, evolving global compliance requirements and new trade policies are adding complexity to marine insurance underwriting and claims management. To address these challenges, RSA is developing advanced insurance models. This includes coverage that responds automatically to predefined events like weather disruptions or port delays. Digital contracts are also being used to improve transparency and efficiency.
"By adapting to these emerging risks and industry changes, our aim is to always provide innovative and flexible marine insurance solutions that help businesses navigate an increasingly complex and uncertain global shipping environment.”
Partnering with an expert
The emerging risks in Marine insurance are considerable as outlined. Brokers should look to partner with an experienced, and adaptable marine insurer that offers comprehensive coverage, strong risk management, efficient claims handling, and expert support. RSA does this.
Our dedicated marine underwriting teams understand the complexity of global trade. Their knowledge and experience covers cargo transit, vessel operations, port liabilities, and specialist risks such as project cargo or offshore exposures. This level of specialisation allows us to offer brokers well-informed, tailored solutions that go beyond generic coverage. We continuously strive to meet the unique needs of brokers and their customers across different marine sectors.
We’re proud of our well-established global reach and operational capability. With a presence through our global network around the world, RSA can issue local policies, respond swiftly to incidents, and provide on-the-ground support wherever it’s needed.
Another key reason to partner with RSA is the strength of our claims service. Marine claims are often urgent and complex. A dedicated marine claims team is well-equipped to handle everything from cargo losses to vessel damage and third-party liabilities. We are committed to prompt, transparent claims handling, and we always aim to minimise disruption and maintain trust. This responsive, problem-solving approach gives brokers the assurance that their customers will be supported when it matters most.
Furthermore, we add value through a commitment to innovation and risk management. We continue to invest in digital tools, real-time data solutions, and proactive risk mitigation strategies helping customers reduce exposures and streamline operations. For brokers, this not only enhances their own offering but also strengthens long-term client relationships.
All of this makes RSA a strategic, reliable, and forward-thinking marine insurance partner.
