Newsworthy events in the Middle East usually find a captive
audience among the global insurance community. Due to the
relatively insignificant reinsurance capacity in the Middle East
insurance markets, it is not unusual to see reinsurers from around
the world participating in regional risks. This is particularly
true of marine insurance.
Marine risks in the region tend to have more international
linkages compared with other parts of the world. It is fairly
commonplace to see reinsurers from five or six different markets on
one slip. This broad exposure to the international markets creates
interesting challenges.
On the underwriting side, regional insurers find themselves
faced with varying expectations when it comes to risk assessment
and forms of wording. On the claims side, insurers face mixed
expectations in relation to claims handling and investigation.
However, the impact of the extensive international linkages is felt
most acutely when any event causes the
