Aon adds marine muscle in Durban

The Durban branch of insurance brokers Aon has now launched a full-strength team to offer marine cover to the industry. Last year the company decided that it was time to offer such a professional marine insurance service. Durban is the largest and busiest port in Africa, and one of the largest in the southern hemisphere, according to Aon marine team leader, Debbie Moorgas. “This,” she told FTW, “coupled with Aon being the largest broker in the world, made it a logical step. The branch had grown exponentially and had achieved the gravitas to offer such a service.” Moorgas has been busy implementing this strategy – describing herself as “a dedicated provider” of such a service – and enhancing the national marine offering, with marine expertise also established in Johannesburg and Cape Town. “Marine insurance is a diverse, exciting and challenging business to be in,” she said, “yet so few people choose to become involved. “But the old guard is now changing, and the young people – who were once the trainees – are becoming the market leaders, some with exceptional skill and knowledge.” But marine insurance skills are still in short supply, she added, and it depends on those already in the industry to create employment opportunities and to provide the necessary training for the young people. “As a client,” added David Moriarty, Aon Durban branch manager, “you should look for a broker who is compliant with and accredited by the Financial Advisory and Intermediary Services(FAIS); who understands the workings of your business and one that will add value to your organisation. With the introduction of new insurance markets, the client will find that the rates being obtained are more competitive, he told FTW, which means that it is still a soft market. “However, he said, “rates being driven down may appear to be a good thing for clients, but how sustainable they are remains to be seen.”