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Middle East - Worse things happen at sea.
(From Reinsurance)
The IUMI Facts and Figures Committee has revealed that global premiums for marine insurance in 2002 reached $13.3bn rising to $15.bn (excluding P&I from mutual P&I clubs) in 2003. Although the marine insurance business in the Arab region is a tiny proportion of the global total (see figures below), it is still an area with both development potential and some particular issues that impact the global marine insurance market.
The situation in Iraq is considered one of the most pressing issues for those focusing on marine insurance in the Middle East region. Experts at a meeting in Bahrain in September last year had already concentrated ...
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