GT Insurance Provides Flexible Solutions Amid Global Trade Shifts
Adapting to New Tariffs and Market Volatility in the Marine Sector
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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 proactive partnership with brokers to reassess policy terms, limits, and structures to better 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 company encourages brokers to reach out if their clients experience drops in gross freight earnings or significant shifts in operational risk. GT Insurance's marine insurance solutions are designed with adaptability in mind, allowing for adjustments that reflect the current market landscape.
For Australian boat owners and marine operators, this approach offers reassurance that their insurance coverage can be tailored to meet the demands of a fluctuating global trade environment. By maintaining open lines of communication and fostering strong broker relationships, GT Insurance aims to provide stability and support during periods of uncertainty.
As the marine industry continues to face external pressures, having an insurance partner that prioritises flexibility and proactive engagement is crucial. GT Insurance's commitment to adapting to clients' needs underscores its dedication to protecting livelihoods and empowering progress within the Australian marine sector.
Published:Wednesday, 10th Dec 2025 Source: Paige Estritori
Please Note: If this information affects you, seek advice from a licensed professional.
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