PIAM Col­lab­o­rates With IUMI To Or­gan­ise The First Joint Ses­sion On The Marine In­sur­ance In­dus­try In Malaysia

Insurance - - EVENTS -

The IUMI-PIAM Joint Ses­sion on Growth Op­por­tu­ni­ties for the Marine In­sur­ance Mar­ket in Malaysia, or­gan­ised by the Gen­eral In­sur­ance As­so­ci­a­tion of Malaysia (PIAM) and In­ter­na­tional Union of Marine In­sur­ance (IUMI) was held on 2nd Novem­ber 2015 in Kuala Lumpur. The fo­cus of this in­au­gu­ral half-day ses­sion was to iden­tify ways in which PIAM and IUMI can as­sist the lo­cal marine in­sur­ance fra­ter­nity fac­ing com­plex and un­cer­tain chal­lenges while main­tain­ing in­no­va­tion and de­vel­op­ment in the marine in­sur­ance and mar­itime in­dus­tries.

Mr. Di­eter Berg, IUMI Pres­i­dent de­liv­ered the key­note ad­dress and touched upon the state of the global marine mar­ket, chal­lenges for marine in­sur­ance and new ini­tia­tives set up by IUMI to as­sist its mem­bers.

The sem­i­nar con­tin­ued with pre­sen­ta­tions by Mr. Lars Lange, IUMI Sec­re­tary Gen­eral, who shared the high­lights from the IUMI Ber­lin Con­fer­ence held in Septem­ber 2015 and some key func­tions of IUMI, as well as Mr. Mike Davies, Vice Chair­man of IUMI Ex­ec­u­tive Com­mit­tee who spoke on the marine cargo, hull and off­shore en­ergy ex­pe­ri­ence world­wide, in­clud­ing some facts and fig­ures of the Sin­ga­pore and Malaysian mar­kets. He also high­lighted some hot topic ar­eas on loss preven­tion.

Mr. Ed­win Cheah, As­sis­tant Vice Pres­i­dent, Marine Un­der­writ­ing & Trade Credit In­sur­ance, MSIG In­sur­ance (Malaysia) Bhd. and Ms. Lee Ying Ying, Mem­ber of PIAM Fire, Marine & En­gi­neer­ing Sub-com­mit­tee/ As­sis­tant Vice Pres­i­dent, Marine & Avi­a­tion, AIG Malaysia In­sur­ance Bhd. were also in­vited to share their views as lo­cal ex­perts dur­ing the panel dis­cus­sion ses­sion mod­er­ated by Mr. Mark Lim, PIAM CEO.

A lively dis­cus­sion en­sued with ac­tive in­ter­ac­tion among the panel mem­bers who fielded chal­leng­ing and prob­ing ques­tions from the floor.

The IUMI-PIAM Joint Ses­sion on Growth Op­por­tu­ni­ties for the Marine In­sur­ance Mar­ket in Malaysia re­ceived strong par­tic­i­pa­tion from more than 45 lo­cal marine in­sur­ance prac­ti­tion­ers. It is part of PIAM’s ef­fort to el­e­vate the pro­file of Marine In­sur­ance (both Hull and Cargo) as an im­por­tant class of busi­ness with strong po­ten­tial for growth in our mar­ket.

Mr. Di­eter Berg, IUMI Pres­i­dent

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