During 2022, direct written premiums in the U.S. inland marine sector increased 14.3% compared with the year prior, while the sector's loss ratio fell from 49.3 in 2021 and 46.6 in 2022. Credit: sirisakboakaew/Adobe Stock
Built on the back of marine cargo coverage, inland marine insurance has evolved into a line of coverages that address a broad range of risks in an even broader array of industries.
"In the past, I've been asked by management and others what SIC code (standard industrial classification) inland marine applies to and my response has always been 'all of them,'" Rich Soja, head of global inland marine for Allianz Global Corporate & Specialty, says. "There is a little bit of inland marine in every sector and industry. With that said, the two most obvious ones are construction and transportation logistics."
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
