Insuring the future of responsible marine insurance
The Poseidon Principles for Marine Insurance are a new global framework for responsible marine insurance.
The Poseidon Principles for Marine Insurance provide a global framework for assessing and disclosing the climate alignment of insurers’ hull and machinery portfolios. They establish a common, global baseline to quantitatively assess and disclose the climate alignment of insurance portfolios in order to assess the environmental and climate impact of business decisions – thus enabling the insurance sector to improve transparency.
The Poseidon Principles for Marine Insurance are consistent with the policies and ambitions of the International Maritime Organization (IMO) and have also chosen to take steps toward alignment with the Paris Agreement.
Signatories of the Principles include SwissRe Corporate Solutions, Gard, Hellenic Hull, SCOR, Victor Insurance, Norwegian Hull Club, Fidelis Insurance, Navium Marine, AXA XL, and Skuld. Affiliate members supporting the Principles are Willis Towers Watson, Cefor, EF Marine, Cambiaso Risso Group, Lockton, CTX Special Risks, Lochain Patrick Insurance Brokers, Gallagher and Cosco Shipping Captive Insurance. The International Union of Marine Insurers (IUMI) is a supporting partner.
The drafting of the Poseidon Principles was led under auspices of the Global Maritime Forum by a group of global insurance institutions– Swiss Re Corporate Solutions, Gard, Cefor – in collaboration with leading industry players – Willis Towers Watson, Star Bulk, A.P. Møller-Mærsk, Lloyd’s Register – with expert support provided by the Swiss Re Institute and UMAS.
Learn more about the Poseidon Principles for Marine Insurance at www.poseidonprinciples.org.
Poseidon Principles for Marine Insurance (thumbnail)