The transfer of data all over the world is supported by submarine communication cables. The subsea cables industry is continually developing and is increasingly relied upon by numerous industries, organizations and governments.
The industry is constantly evolving as technology advances. There are substantial growth opportunities which continue to gather momentum as the benefits of sending information and providing access to internet, phone and email in the most remote parts of the world via subsea cables are realized.
Often challenged by harsh and volatile environments, the types of equipment – such as Remotely Operated Vehicles (ROV’s), Autonomously Operated Vehicles (AUV’s), Unmanned Surface Vessels (USV’s) Streamers and other supporting equipment – are exposed to a number of risks.
Most traditional marine insurances exclude or limit coverage for anything operating over the side of a vessel and, as a result, a specialist understanding of the coverages and products available is required.
Continued global growth of seaborne trade, oil price volatility, economic stability and geopolitical tensions are all challenges and opportunities faced by shipyards around the world. Specialist solutions are designed to support both shipyards and, importantly, the buyers of new builds.
As the marine special risks continue to evolve in response to changing demands and technologies, working with a specialist broker with a global footprint and access to experts and markets around the world provides the insights, advisory and broking services to tailor solutions in response to changing needs and objectives.