Underwriters Told To Oppose Foreign Insurance Protectionism

A senior official from the U.S. Trade Representative's Office told the American Institute of Marine Underwriters that it has neglected its responsibility to help fight foreign restrictions on American marine cargo insurance.

David Beebe, chairman of the institute representing 90 percent of the nation's marine insurers, pointed out recently that there is no reference in bilateral trade agreements to granting free access to the international cargo business to U.S.

marine underwriters.

The U.S. Trade Office is willing to include this provision for the country's marine insurers in bilateral trade agreements, but "it takes two to tango, and we can't solve the problem by ourselves," said the trade office official. He added that the institute has yet to adequately identify to the trade office those countries that possess restrictive cargo insurance policies or to form delegations to meet with foreign officials on the subject.