Professionals Insurance Online :: News
SHARE

Share this news item!

GT Insurance Provides Flexible Solutions Amid Global Trade Shifts

Adapting to New Tariffs and Market Volatility in the Marine Sector

GT Insurance Provides Flexible Solutions Amid Global Trade Shifts?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

As global trade dynamics undergo significant shifts, GT Insurance is reaffirming its commitment to supporting marine clients navigating these challenges.
The recent 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.

In response, GT Insurance is emphasising flexibility and proactive partnership with brokers to reassess policy terms, limits, and structures to better align with clients' evolving operational conditions. 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."

The company encourages brokers to reach out if their clients experience drops in gross freight earnings or significant shifts in operational risk. GT Insurance's marine insurance solutions are designed with adaptability in mind, allowing for adjustments that reflect the current market landscape.

For Australian boat owners and marine operators, this approach offers reassurance that their insurance coverage can be tailored to meet the demands of a fluctuating global trade environment. By maintaining open lines of communication and fostering strong broker relationships, GT Insurance aims to provide stability and support during periods of uncertainty.

As the marine industry continues to face external pressures, having an insurance partner that prioritises flexibility and proactive engagement is crucial. GT Insurance's commitment to adapting to clients' needs underscores its dedication to protecting livelihoods and empowering progress within the Australian marine sector.

Published:Wednesday, 10th Dec 2025
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

Allianz Australia Penalised for Misleading Travel Insurance Information
Allianz Australia Penalised for Misleading Travel Insurance Information
30 Dec 2025: Paige Estritori
In a significant ruling, Allianz Australia Insurance and its subsidiary, AWP Australia, have been fined a total of $16.8 million for providing misleading information about their travel insurance products. The Supreme Court of New South Wales found that between 2016 and 2018, the companies misrepresented the extent of coverage available to consumers, leading to potential misunderstandings about policy benefits. - read more
Allianz Partners Highlights Risks of Travelling Uninsured
Allianz Partners Highlights Risks of Travelling Uninsured
30 Dec 2025: Paige Estritori
Recent research conducted by the Insurance Council of Australia (ICA) and the Department of Foreign Affairs and Trade (DFAT) has unveiled a concerning trend: approximately 14% of Australian travellers embark on international journeys without any form of travel insurance. This statistic has prompted Allianz Partners to urge Australians to reconsider the importance of securing adequate coverage before travelling abroad. - read more
Surge in Medical Claims Among Australian Travellers Highlights Importance of Comprehensive Insurance
Surge in Medical Claims Among Australian Travellers Highlights Importance of Comprehensive Insurance
30 Dec 2025: Paige Estritori
In 2024, medical incidents emerged as the leading cause of travel insurance claims among Australian travellers, accounting for more than 40% of all claims handled by nib Travel. This trend underscores the critical importance of securing comprehensive travel insurance to mitigate the financial risks associated with medical emergencies abroad. - read more
Allianz Australia Penalised $16.8 Million for Misleading Conduct
Allianz Australia Penalised $16.8 Million for Misleading Conduct
30 Dec 2025: Paige Estritori
In a significant regulatory action, Allianz Australia and its subsidiary, AWP Australia, have been fined $16.8 million for making false and misleading statements. This penalty was imposed following an investigation by the Australian Securities and Investments Commission (ASIC), underscoring the critical need for transparency and honesty in the insurance sector. - read more
New Legislation Prohibits Use of Genetic Test Results in Life Insurance Underwriting
New Legislation Prohibits Use of Genetic Test Results in Life Insurance Underwriting
30 Dec 2025: Paige Estritori
The Australian government has announced plans to introduce legislation that will ban life insurers from using adverse genetic test results in their underwriting processes. This move aims to eliminate genetic discrimination and encourage individuals to undergo genetic testing without fear of insurance repercussions. - read more


Professionals Insurance Articles

Tailoring Income Protection for Medical Professionals
Tailoring Income Protection for Medical Professionals
Income protection insurance is a vital safety net for individuals across various professions, designed to provide financial stability if one is unable to work due to illness or injury. This type of insurance replaces a percentage of your income, alleviating the burden of regular expenses while you focus on recovery. For medical professionals who often have high earnings and extensive financial commitments, this coverage is particularly important. - read more
How Cyber Insurance Can Protect You as a Freelance Professional
How Cyber Insurance Can Protect You as a Freelance Professional
In our digitally-driven world, cyber insurance has become an essential safeguard for anyone who operates online, particularly freelance professionals. At its core, cyber insurance is designed to help cover the risks associated with cyberattacks or data breaches, which can be devastating to both your reputation and your finances. - read more
Essential Insurance Solutions for Australian Professionals
Essential Insurance Solutions for Australian Professionals
In today's ever-evolving professional landscape, having the right insurance coverage is becoming increasingly important for Australian professionals. As more individuals step into freelance work and independent contracting, the need for tailored insurance solutions becomes crucial. Professionals in fields like IT consulting, engineering, and interior design face unique risks that necessitate proper protection. - read more
The Importance of Professional Indemnity Insurance for Freelance Professionals
The Importance of Professional Indemnity Insurance for Freelance Professionals
Professional indemnity insurance is a vital safety net for freelance professionals. It is designed to protect individuals offering expert services or advice from claims of negligence or misconduct. Whether you're a consultant, designer, or engineer, having this insurance ensures that you're prepared for unexpected liabilities that could arise from your professional activities. - read more
Protecting Your Professional Income: Understanding Income Protection Insurance
Protecting Your Professional Income: Understanding Income Protection Insurance
Income protection insurance is a financial safety net for individuals who are unable to work due to illness or injury. It ensures that you receive a percentage of your income during times when you cannot earn a salary, helping you maintain your lifestyle as you recover. This type of insurance offers peace of mind by providing financial support when it is needed most, allowing you to focus on recovery rather than financial pressures. - read more


Your free insurance quote comparison starts here!
First Name:
Postcode:

All quotes are provided free and without obligation by a Specialist from our National Broker referral panel. See our Privacy Statement for more details.


Knowledgebase
Rider:
An optional provision added to an insurance policy that provides additional benefits or coverage.