{
    "componentChunkName": "component---src-gatsby-entities-post-tsx",
    "path": "/posts/climate-change-vs-the-soft-market-a-collision-course-in-marine-insurance",
    "result": {"data":{"platform":{"post":{"id":"68b7c1ed233507e83797c2e4","slug":"climate-change-vs-the-soft-market-a-collision-course-in-marine-insurance","path":"/posts/climate-change-vs-the-soft-market-a-collision-course-in-marine-insurance","name":"Climate Change vs the Soft Market: A Collision Course in Marine Insurance ","title":null,"pretitle":null,"subtitle":null,"published":"2026-05-14T05:33:48.56","content":{"plain":"Climate change is no longer a future threat it’s already reshaping the marine sector. Cyclones, like those that have battered Queensland and Western Australia in recent years are becoming more frequent, more intense and harder to predict. The impacts are wide ranging: hull damage to vessels, port disruptions and cargo losses in transit. Meanwhile prolonged rain events and flash flooding are damaging infrastructure, cutting off transport routes and increasing claims across the board.\nIn Australia this means longer catastrophe (CAT) seasons with global warming extending the window for extreme weather. For marine insurers this translates to heightened exposure across key policy areas:\nHull Insurance: Storm surges and cyclones are putting more pressure on vessel structures increasing the risk of groundings, sinking, and major damage.\nCargo Insurance: Goods in transit are more vulnerable to delays and damage. Flooding can spoil perishables while unpredictable weather disrupts loading and unloading creating costly ripple effects across supply chains.\nLiability & P&I: Environmental liabilities are rising, with insurers facing stricter regulations and higher cleanup costs following extreme weather events.\nThe Soft Market: A Temporary Relief or a False Sense of Security?\nIn 2025, Australia’s insurance market is experiencing softening conditions. Increased competition driven by new entrants and abundant capacity has pushed premiums down across many lines, including marine. For businesses this may feel like a welcome break amid rising costs and economic pressures but this stability may be misleading.\nIf climate related claims continue to rise, the current pricing model could become unsustainable. A series of major events like supercell storms, floods, or cyclones hitting the same regions repeatedly or becoming widespread into new areas could force insurers to pull back capacity. The result? Sharp premium hikes, reduced coverage, and stricter exclusions.\nWe could see:\nHull policies with higher deductibles\nCargo insurance excluding certain weather perils\nP&I cover becoming prohibitively expensive\nNavigating the Collision: Building a More Resilient Future\nThe good news? There are proactive steps businesses can take to stay ahead of the curve and keep marine insurance viable:\nInvest in early warning systems and climate resilient infrastructure to reduce exposure and lower claim frequency in areas of impact.\nUse predictive modelling and climate data to better understand and manage risk.\nDemonstrate strong risk management practices to insurers — this can lead to more favourable pricing and terms.\nBuild strong partnerships with brokers and insurers to tailor coverage, better understand the risk, negotiate smarter, and stay agile in a changing market.\nLet’s Talk\nConnect with the team at Marinex today to explore how tailored solutions can help you manage risk and navigate the marine landscape in an increasingly unpredictable environment.\nW: marinexunderwriting.com.au\nE: enquiry@marinexuw.com.au\nP: 1800 574 222\n","text":"Climate change is no longer a future threat it’s already reshaping the marine sector. Cyclones, like those that have battered Queensland and Western Australia in recent years are becoming more frequent, more intense and harder to predict. The impacts are wide ranging: hull damage to vessels, port disruptions and cargo losses in transit. Meanwhile prolonged rain events and flash flooding are damaging infrastructure, cutting off transport routes and increasing claims across the board.\n\nIn Australia this means longer catastrophe (CAT) seasons with global warming extending the window for extreme weather. For marine insurers this translates to heightened exposure across key policy areas:\n\nHull Insurance: Storm surges and cyclones are putting more pressure on vessel structures increasing the risk of groundings, sinking, and major damage.\nCargo Insurance: Goods in transit are more vulnerable to delays and damage. Flooding can spoil perishables while unpredictable weather disrupts loading and unloading creating costly ripple effects across supply chains.\nLiability & P&I: Environmental liabilities are rising, with insurers facing stricter regulations and higher cleanup costs following extreme weather events.\n\n**The Soft Market: A Temporary Relief or a False Sense of Security?**\n\nIn 2025, Australia’s insurance market is experiencing softening conditions. Increased competition driven by new entrants and abundant capacity has pushed premiums down across many lines, including marine. For businesses this may feel like a welcome break amid rising costs and economic pressures but this stability may be misleading.\n\nIf climate related claims continue to rise, the current pricing model could become unsustainable. A series of major events like supercell storms, floods, or cyclones hitting the same regions repeatedly or becoming widespread into new areas could force insurers to pull back capacity. The result? Sharp premium hikes, reduced coverage, and stricter exclusions.\n\n**We could see:**\n\nHull policies with higher deductibles\n\nCargo insurance excluding certain weather perils\n\nP&I cover becoming prohibitively expensive\n\n**Navigating the Collision: Building a More Resilient Future**\n\nThe good news? There are proactive steps businesses can take to stay ahead of the curve and keep marine insurance viable:\n\nInvest in early warning systems and climate resilient infrastructure to reduce exposure and lower claim frequency in areas of impact.\nUse predictive modelling and climate data to better understand and manage risk.\nDemonstrate strong risk management practices to insurers — this can lead to more favourable pricing and terms.\nBuild strong partnerships with brokers and insurers to tailor coverage, better understand the risk, negotiate smarter, and stay agile in a changing market.\n\n**Let’s Talk**\n\nConnect with the team at Marinex today to explore how tailored solutions can help you manage risk and navigate the marine landscape in an increasingly unpredictable environment.\n\n**W: marinexunderwriting.com.au**\n\n**E: enquiry@marinexuw.com.au**\n\n**P: 1800 574 222**\n\n\n"},"openGraph":{"title":null,"description":{"plain":"Australia’s marine insurance landscape is shifting rapidly and not without its challenges. On one side, businesses are facing growing climate related risks. On the other insurers are under pressure to keep premiums affordable in an increasingly competitive market. So how do we bridge the gap? The answer lies in resilience, innovation, and collaboration.\n"},"image":{"url":"https://res.cloudinary.com/shapeable/image/upload/v1756873456/rhodian/banner/waves_image__iStock-2180697289_fspncb.jpg","url2x":null,"thumbnails":{"card":{"url":"https://res.cloudinary.com/shapeable/image/upload/c_limit,w_480/v1756873456/rhodian/banner/waves_image__iStock-2180697289_fspncb.jpg","url2x":"https://res.cloudinary.com/shapeable/image/upload/c_limit,w_960/v1756873456/rhodian/banner/waves_image__iStock-2180697289_fspncb.jpg"},"bubble":{"url":"https://res.cloudinary.com/shapeable/image/upload/c_limit,w_64/v1756873456/rhodian/banner/waves_image__iStock-2180697289_fspncb.jpg","url2x":"https://res.cloudinary.com/shapeable/image/upload/c_limit,w_128/v1756873456/rhodian/banner/waves_image__iStock-2180697289_fspncb.jpg"}}}},"intro":{"plain":"Australia’s marine insurance landscape is shifting rapidly and not without its challenges. On one side, businesses are facing growing climate related risks. On the other insurers are under pressure to keep premiums affordable in an increasingly competitive market. So how do we bridge the gap? The answer lies in resilience, innovation, and collaboration.\n","text":"Australia’s marine insurance landscape is shifting rapidly and not without its challenges. On one side, businesses are facing growing climate related risks. On the other insurers are under pressure to keep premiums affordable in an increasingly competitive market. So how do we bridge the gap? The answer lies in resilience, innovation, and collaboration."},"outro":{"text":""},"videos":[],"imageAssets":[],"organisations":[{"id":"65dec94bf9bc8b1fd8c96202","name":"Marinex Underwriting","slug":"marinex-underwriting","path":"/organisations/marinex-underwriting","logo":{"id":"image_rhodian/organisation/marinex-underwriting_logo__Marinex_Logo-RGB_Positive_e71blu","url":"https://res.cloudinary.com/shapeable/image/upload/v1709099255/rhodian/organisation/marinex-underwriting_logo__Marinex_Logo-RGB_Positive_e71blu.png","url2x":null,"thumbnails":{"bubble":{"url":"https://res.cloudinary.com/shapeable/image/upload/c_limit,w_64/v1709099255/rhodian/organisation/marinex-underwriting_logo__Marinex_Logo-RGB_Positive_e71blu.png","url2x":"https://res.cloudinary.com/shapeable/image/upload/c_limit,w_128/v1709099255/rhodian/organisation/marinex-underwriting_logo__Marinex_Logo-RGB_Positive_e71blu.png"}},"type":"image/png"}}],"people":[{"id":"667b85cb24419faa5127f4cd","name":"Chris Kelly","slug":"chris-kelly","path":"/people/chris-kelly","organisation":{"id":"65dec94bf9bc8b1fd8c96202","name":"Marinex Underwriting"},"linkedin":"https://www.linkedin.com/in/christian-kelly-161a1494/","position":"Chief Executive Officer","photo":{"id":"image_rhodian/person/chris-kelly_photo__Chris_Kelly_nxg2nl","url":"https://res.cloudinary.com/shapeable/image/upload/v1723015702/rhodian/person/chris-kelly_photo__Chris_Kelly_nxg2nl.webp","url2x":null,"thumbnails":{"bubble":{"url":"https://res.cloudinary.com/shapeable/image/upload/c_limit,w_64/v1723015702/rhodian/person/chris-kelly_photo__Chris_Kelly_nxg2nl.webp","url2x":"https://res.cloudinary.com/shapeable/image/upload/c_limit,w_128/v1723015702/rhodian/person/chris-kelly_photo__Chris_Kelly_nxg2nl.webp"}},"type":"image/webp"}}],"embeds":{"citations":[],"pages":[],"people":[],"imageAssets":[]},"banners":[{"id":"68b7c2f6233507e83797c2f9","name":"Waves","slug":"waves","title":null,"description":{"text":""},"alternateText":null,"image":{"id":"image_rhodian/banner/waves_image__iStock-2180697289_fspncb","url":"https://res.cloudinary.com/shapeable/image/upload/v1756873456/rhodian/banner/waves_image__iStock-2180697289_fspncb.jpg","url2x":null,"width":724,"height":483,"type":"image/jpeg"}}]}}},"pageContext":{"lang":{"id":"en","path":"","iso":"en","name":"English","label":"English"},"availableEntities":["Page","Post","FeedEntry","Video"],"detailEntities":["Page","Post"],"site":{"id":"65d566e0f7d2d452331bf0e3","slug":"rhodian","name":"Rhodian","url":"https://rhodian.com.au","title":"Rhodian","twitter":null,"threads":null,"facebook":null,"linkedin":"https://www.linkedin.com/company/rhodiangroup","instagram":null,"flickr":null,"tiktok":null,"youtube":null,"ownerName":"Rhodian","recaptchaKey":"6LdDQxwkAAAAAOJ_pLxAaXbpytdvGAuekNkqg6d0","googleSiteVerification":"QrqozC_nD82lnaYFTuo91ylOdmN6u59ZW4gE2wA-1kA","platformName":"Rhodian Community Platform","platformUrl":"https://rhodian.shapeable.ai","supportEmail":null,"contactEmail":null,"mainMenu":{"id":"65d566bdf7d2d452331befd0","slug":"website-navigation"},"linearMenu":null,"entityViews":[],"entityAppViews":[],"entityOnboardingViews":[],"gptLanguages":[],"gptQuestionTemplate":null,"advertisements":[],"logoVerticalOffset":null,"logoHorizontalOffset":null,"logoVerticalOffsetMobile":null,"logoHorizontalOffsetMobile":null,"logoVerticalOffsetTablet":null,"logoHorizontalOffsetTablet":null,"logoVerticalOffsetDesktop":null,"logoHorizontalOffsetDesktop":null,"logoHeightMobile":null,"logoHeightTablet":null,"logoHeightDesktop":null,"headerHeightMobile":null,"headerHeightTablet":null,"headerHeightDesktop":null,"logo":{"url":"https://res.cloudinary.com/shapeable/image/upload/v1674170403/rhodian/site/rhodian_logo__rhodian_logo__logo_ps3pgm.png.png","type":"image/png","width":330,"height":50},"logoInverted":{"url":"https://res.cloudinary.com/shapeable/image/upload/v1674170404/rhodian/site/rhodian_logoInverted__rhodian_logoInverted__rhodian-logo-inverted_qmabxo.png.png","type":"image/png","width":330,"height":50},"footerMenu":{"id":"65d566bdf7d2d452331befd0","slug":"website-navigation"},"footerSecondaryMenu":null,"footerContent":{"text":"© {year} Rhodian. All rights reserved\n\nABN: 90 665 784 627 - AFSL: 237267"},"creator":null,"poweredBy":{"id":"65d566c0f7d2d452331befff","name":"Shapeable","slug":"shapeable","url":"https://shapeable.ai","logo":{"url":"https://res.cloudinary.com/shapeable/image/upload/v1729480609/rhodian/organisation/shapeable_logo__shapeable-logo_b5oenq.png","type":"image/png","width":392,"height":118},"logoInverted":{"url":"https://res.cloudinary.com/shapeable/image/upload/v1729480635/rhodian/organisation/shapeable_logoInverted__shapeable-logo-inverted_hxeuqs.png","type":"image/png","width":392,"height":118},"logoSubtle":null},"poweredByLabel":null,"poweredByContent":{"text":""},"explorerPage":null,"termsPage":null,"homePage":{"name":"Home","title":"Venture. Collectively.","slug":"home-5","path":"/"},"knowledgeHubPage":{"name":"Insights","title":"Insights","slug":"insights-4","path":"/insights"},"privacyPolicyPage":{"name":"Privacy Policy","title":"Privacy Policy","slug":"privacy-policy-4","path":"/privacy-policy"},"summary":{"text":"Rhodian. A network that creates independent opportunity and the collective capability to shape the future of our industry. Equitable and ethical at our core, we're building a network of independent underwriting agencies that deliver better to insurers, brokers and ultimately the end-consumer. As an incubator, we’re backing and bringing together the next generation of insurance entrepreneurs."},"thumbnail":{"url":"https://res.cloudinary.com/shapeable/image/upload/v1674170500/rhodian/site/rhodian_thumbnail__rhodian_h44zan.jpg.jpg"},"openGraph":{"title":"Rhodian","date":"2024-10-21T03:17:25.28","description":{"plain":"Rhodian. A network that creates independent opportunity and the collective capability to shape the future of our industry. Equitable and ethical at our core, we're building a network of independent underwriting agencies that deliver better to insurers, brokers and ultimately the end-consumer. As an incubator, we’re backing and bringing together the next generation of insurance entrepreneurs.\n"},"image":{"url":"https://res.cloudinary.com/shapeable/image/upload/v1674170500/rhodian/site/rhodian_thumbnail__rhodian_h44zan.jpg.jpg","type":"image/jpeg","thumbnails":{"full":{"url":"https://res.cloudinary.com/shapeable/image/upload/v1674170500/rhodian/site/rhodian_thumbnail__rhodian_h44zan.jpg.jpg"}}}},"termsAndConditions":{"text":""},"privacyPolicy":{"text":""},"welcomeUrl":"https://rhodian.com.au/app/welcome","welcomeTitle":null,"invitationAction":"join the Rhodian community","setupCompletionMessage":null,"languages":[],"brandColors":[],"showLogin":null,"showShareMenu":true,"showFollowMenu":true,"showPlatformLogin":null,"showContactUs":null,"loginLabel":null,"platformLoginLabel":null,"headerButtons":[]},"includeProfile":false,"disableProfileEditing":false,"dynamicEntityTypeNames":[],"id":"68b7c1ed233507e83797c2e4","slug":"climate-change-vs-the-soft-market-a-collision-course-in-marine-insurance","entityPath":"/posts/climate-change-vs-the-soft-market-a-collision-course-in-marine-insurance","openGraph":{},"entityTypeName":"Post","name":"Climate Change vs the Soft Market: A Collision Course in Marine Insurance ","__type":"Post"}},
    "staticQueryHashes": ["1221201636","1227084492","1357869590","1424666086","1494373414","1505804561","1642514827","2016388789","2065593444","2178469144","2252425139","227495051","2338984618","2952590632","3002076743","3190044573","3300161794","3438062317","3624873332","3685893834","3868936251","387122360","4051288826","418456406","4285939262","88762491"]}