The opening event of the International Union of Marine Insurance (IUMI) conference got underway almost 400 metres above Hong Kong’s busy harbour.

The global hull insurance market is in its 18th year of underwriting loss, so it was understandable that there was some drowning of sorrows.

In its 140th year, IUMI managed to draw a crowd of 632 to the Hong Kong meet, with the Asian turnout predictably stronger than usual.

Although