The global financial crisis continues to influence almost all of the maritime insurance sectors and the overall premium volume for most classes is down on this time a year ago. This is due to a number of factors including vessel values, vessel trading patterns, cargo volumes and general reductions in income for the maritime industries. Against this backdrop the insurance market is attempting to increase premiums due to a number of years of poor results and the lack of investment return. Clearly this is creating a significant challenge in that insurance buyers are trying to find ways to cut costs, while insurance sellers are trying to find ways to increase revenue.