GT Insurance Provides Flexible Solutions Amid Global Trade Shifts
GT Insurance Provides Flexible Solutions Amid Global Trade Shifts
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As global trade dynamics undergo significant shifts, GT Insurance is reaffirming its commitment to supporting marine clients navigating these challenges.
The recent imposition of US tariffs—25% on Australian steel and aluminium, and 10% on other exported goods—has introduced new uncertainties for local exporters, particularly in sectors like beef and bulk freight.
These tariffs, effective from April 5, 2025, have prompted concerns about declining export volumes and reduced freight margins.
In response, GT Insurance is emphasising flexibility and partnership in its approach to marine coverage. Steve Amey, Head of Distribution for Marine at GT Insurance, stated, "We understand the challenges our marine clients face when external pressures like tariffs disrupt trade flows or freight earnings. Our approach is always to work proactively with brokers to reassess policy terms, limits, or structures to better match our clients' real-time operating conditions."
GT Insurance offers a range of marine insurance solutions, including cargo, hull, and carrier's liability products, designed with adaptability in mind. The company encourages brokers to reach out if their clients are experiencing any drop in gross freight earnings or significant shifts in operational risk. This collaborative approach aims to ensure that insurance coverage remains relevant and supportive amid evolving market conditions.
For Australian exporters and marine businesses, engaging with insurers who offer flexible and responsive solutions is crucial in mitigating the impacts of global trade shifts. Consulting with experienced marine insurance brokers can provide valuable insights and strategies to navigate these uncertainties effectively.
As the trade landscape continues to evolve, maintaining open communication with insurance providers and staying informed about policy options will be key in ensuring comprehensive and adaptable coverage for marine operations.
Published:Thursday, 12th Feb 2026 Source: Paige Estritori
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Coverage: The amount of risk or liability covered for an individual or entity by way of insurance services.
