GT Insurance Provides Flexible Solutions Amid Global Trade Shifts
Addressing Marine Insurance Needs in a Volatile Trade Environment
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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 emphasizing flexibility and proactive partnership with brokers to reassess policy terms, limits, and structures, ensuring they align with clients' evolving operational conditions. 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."
The insurer encourages brokers to reach out if their clients experience significant shifts in operational risk or a drop in gross freight earnings. GT Insurance's marine solutions are designed with adaptability in mind, allowing for tailored coverage that meets the specific needs of clients during volatile times.
Beyond individual client support, GT Insurance is investing in broker relationships and developing tailored solutions across its marine portfolio, including cargo, hull, and carrier's liability products. This collaborative approach underscores the company's commitment to "Powering Progress"-helping Australian businesses move forward confidently, even amidst complex market conditions.
For marine clients seeking comprehensive and flexible insurance solutions during these uncertain times, GT Insurance stands as a reliable partner, ready to adapt and support their evolving needs.
Published:Tuesday, 7th Oct 2025 Source: Paige Estritori
Please Note: If this information affects you, seek advice from a licensed professional.
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