Marsh and Tokio Marine Kiln Introduce Port Disruption Insurance Amid Global Shipping Challenges
Marsh and Tokio Marine Kiln Introduce Port Disruption Insurance Amid Global Shipping Challenges
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In response to escalating global shipping challenges, leading broker Marsh and Lloyd's underwriter Tokio Marine Kiln have launched a pioneering business interruption insurance specifically designed for ports.
This innovative product aims to mitigate the financial impact of trade disruptions caused by various factors, including geopolitical tensions and operational strikes.
The new insurance offering provides coverage of up to $50 million per incident, with no geographical limitations. It addresses a significant gap in the market by covering revenue losses resulting from disruptions that do not involve physical damage to port infrastructure. This is particularly relevant in scenarios where ports experience operational halts due to external factors such as regional conflicts or labor disputes.
For Australian port operators and marine businesses, this development offers a valuable tool to manage the financial risks associated with unforeseen disruptions. The ability to secure coverage against non-damage business interruptions can enhance resilience and provide greater financial stability in an increasingly volatile global trade environment.
As the marine industry continues to navigate complex challenges, such innovative insurance solutions underscore the importance of proactive risk management strategies. Australian stakeholders are encouraged to assess their current coverage and consider how such products might bolster their operational continuity plans.
Published:Monday, 24th Nov 2025 Source: Paige Estritori
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Grace Period: A set amount of time after the premium is due during which a policyholder can make a payment without the insurance coverage lapsing.
