News 27 Jan, 2022 Security in a Changing World The International Group is hard at work to provide consistent cover whatever the future of international trade holds, writes Nick Shaw, CEO, IGP&I  Download PDF Nick Shaw CEO, IG P&I In a world of rapid change and great uncertainty, any rational, level-headed source of reassurance, clarity and consistency is an invaluable asset. It is a matter of professional pride, therefore, that the International Group should be synonymous with stability, cementing trust and instilling confidence in our global stakeholders. Importantly, however, stability should not be confused with stasis. Our insurance system is a dynamic entity in which close and constant engagement with our stakeholders enables us to not only respond to fluctuating circumstances, but to also anticipate them. As we see it, there are many impactful, fast-changing factors to take into consideration with regard to our role in helping to facilitate international trade. The pandemic is the most obvious example, of course, but we’ve also noticed increased concern in relation to cybercrime including localized, quickly quelled and comparatively inconsequential hacks, and also disruptive ransomware attacks on high-profile, land-based corporations. Additionally, geopolitics – including the important ongoing trading relationship between the US and China – are a concern.  We are monitoring developments on each of these issues very closely. Another key matter engendering uncertainty is the debate over the fuel transition within the maritime industry. While there is a partial movement towards the adoption of LNG as a temporary solution, there is as yet no agreement within the industry as to whether the preferred new fuel on a long- term basis will be hydrogen, ammonia or some other fuel, or a combination of fuels. We remain very much in the research and development phase. Our insurance system is a dynamic entity In this respect, as on other issues, we work wit