Cargo market woes force carriers to retreat

A combination of desperately low rates, major losses and the
struggles of its clientele have forced a number of Lloyd's
carriers to draw back meaningfully from the cargo market.
Sources told The Insurance Insider
several high-profile underwriters in the segment have been
casualties of the changes.
Travelers' senior cargo underwriter Nick Derrick and
Advent's Gary Cook are among a slew of specialists understood
to have been released in recent months.
Other carriers understood to have scaled back