The International Union of Marine Insurance (IUMI) has seen more countries join its project to create a global large loss database of hull and cargo claims.

When the association convened for its annual general meeting in Cape Town last year, only six countries were submitting data. But 16 nations have now signed up ahead of this September’s gathering in Toronto, Canada.

Learning curve

International Underwriting Association president Dave Matcham says it is unclear whether the project is quite ready to progress beyond the pilot stage and produce hard facts and figures.