The era of sharp increases in marine cargo insurance for seafood exporters has largely slipped into the past.
That's according to New York-based insurance expert Michael Lieberman at international insurance brokers Foa & Son Corporation.
While container rates have fallen sharply over the past six months from the soaring levels seen at the height of the global pandemic, marine insurance rates don’t run on parallel paths.
"With that said, we continue to see moderation in the insurance sector," said Lieberman, who has consistently spoken of "new normal" levels for insurance premiums for fresh and frozen products shipped across the globe since the onset of the pandemic in early 2020.
