Adapting Marine Coverage to Meet Evolving Export Challenges
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In response to recent shifts in global trade dynamics, GT Insurance is reaffirming its commitment to supporting Australian marine clients navigating these challenges.
The imposition of US tariffs-25% on Australian steel and aluminium, and 10% on other exported goods-has introduced new uncertainties for local exporters, particularly in sectors like beef and bulk freight.
These tariffs, effective from April 5, 2025, have prompted concerns about declining export volumes and reduced freight margins.
Despite these developments, GT Insurance remains steadfast in its support. As a specialist underwriting agency with over 25 years of experience in heavy motor, marine, and machinery insurance, the company is focused on helping brokers and their clients adapt with confidence.
Steve Amey, head of distribution for Marine at GT Insurance, stated, "We understand the challenges our marine clients face when external pressures like tariffs disrupt trade flows or freight earnings. Our approach is always to work proactively with brokers to reassess policy terms, limits, or structures to better match our clients' real-time operating conditions."
GT Insurance encourages brokers to reach out if their clients are experiencing any drop in gross freight earnings or significant shifts in operational risk. The company's marine insurance solutions are designed with flexibility in mind, allowing for adjustments that align with current market conditions.
For Australians considering marine investments, such as jet skis, this proactive approach by GT Insurance highlights the importance of adaptable insurance solutions. Understanding how external factors like trade policies can impact insurance terms and premiums is crucial for making informed decisions about financing and protecting personal watercraft.
Published:Thursday, 22nd Jan 2026 Source: Paige Estritori
Please Note: If this information affects you, seek advice from a licensed professional.
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