GT Insurance Provides Flexible Solutions Amid Global Trade Shifts
GT Insurance Provides Flexible Solutions Amid Global Trade Shifts
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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.
Steve Amey, Head of Distribution for Marine at GT Insurance, emphasized the company's proactive approach: "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 clients' evolving needs.
In volatile times, the value of experience and the ability to deliver flexible solutions become even more important. GT Insurance's relationship-first model and national footprint across metro and regional markets enable fast, transparent decision-making and a commitment to real-world outcomes. The company continues to invest in broker relationships and the development of tailored solutions across its marine portfolio, including cargo, hull, and carrier's liability products.
GT Insurance's philosophy is part of a broader company-wide commitment to "Powering Progress"—helping Australian businesses move forward confidently, even when market conditions are complex. This approach underscores the company's dedication to protecting people's livelihoods and supporting resilience in the face of global trade shifts.
Published:Sunday, 11th Jan 2026 Source: Paige Estritori
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Knowledgebase
Subrogation: The process by which an insurance company seeks to recover the amount paid to the policyholder from a third party responsible for the loss.
