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IUMI conference comes to terms with insurers’ growing war risk

It seemed appropriate that the International Union of Marine Insurance (IUMI) elected war risk specialist Frederic Denefle as its new president at its annual conference last week.

Because the conflict in Ukraine dominated the discussion at the event.

While there was plenty of presentations on the facts and figures of the industry’s performance and the increasing role of ESG, the most immediate concern for the hundreds of marine underwriters which gathered in Chicago is how the war in Ukraine will play out — and at what cost.

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