OLDWICK, N.J.--(BUSINESS WIRE)--In this A.M.BestTV episode, speakers at the annual meeting of the American Institute of Marine Underwriters said that in the long term, emerging markets and evolving technologies will open up new opportunities, but in the short term, macroeconomic challenges remain a drag on the sector. Click on http://www.ambest.com/v.asp?v=aimu1116 to view the entire program.
The hot topics at this year’s conference are emerging opportunities and economic challenges.
“The marine market is a challenging one that has overcapacity and sluggish economic growth,” said Frank Costa, president, Berkley Offshore. “These factors are limiting the amount of growth opportunities in the market.”
William Berkley, executive chairman, W.R. Berkley Corporation, highlighted the biggest challenge facing the marine insurance market.
“Uncertainty is always the biggest challenge in the business, since it is a long-term business,” said Berkley. “Uncertainty is the key element as to how the market prices its products, and although uncertainty creates problems, it also provides opportunities.”
Other people that appear in this episode:
- John Miklus, president, American Institute of Marine Underwriters.
Visit http://www.ambest.tv for full coverage and exclusive interviews with key executives at the conference.
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