The global ship insurance market is approaching anarchy, says Ole Wikborg, president of the International Union of Maritime Insurers (IUMI) and Director and senior underwriter at Norwegian Hull Club.
"The current market is characterized by a lack of leadership. No one's leading the market and saying what's good and bad for policyholders and underwriters. This means that the market is approaching lawless conditions," he tells ShippingWatch, adding:
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