TSC Annual Report 2024 final - Flipbook - Page 19
Managing
ManagingDirector’s
Director Report
report
A key aspect of our progress has been strengthening
our expertise in regulatory and compliance matters.
In response to the growing complexities faced by
shipowners and insurers alike, we have expanded
our team by recruiting specialists in legal and
compliance 昀椀elds. This has allowed us to navigate
the increasing regulatory landscape with con昀椀dence
and complete critical compliance work, including
preparations for DORA (the European Union’s Digital
Operational Resilience Act). This framework is
designed to bolster the 昀椀nancial sector’s IT security
and ensure resilience in the face of operational
disruptions.
We view these regulations as necessary safeguards,
recognising the importance of proactive compliance
in protecting our members, board, and organisation
as a whole.
At the same time, we continue to operate in a world
where geopolitical tensions, economic volatility, and
rapid regulatory changes are shaping the shipping
and insurance industries. The complex burden of
sanctions has intensi昀椀ed, requiring shipowners
and insurers to exercise heightened diligence and
adaptability.
As a Club, we have focused on gathering intelligence,
analysing risk factors, and providing members with the
insights and tools needed to navigate these shifting
landscapes. The growing importance of global industry
collaboration has underscored the critical role of the
International Group (IG), ensuring that we respond
to emerging challenges with a uni昀椀ed and strategic
approach.
The journey toward decarbonisation remains another
de昀椀ning challenge for the shipping industry. Shipowners
face critical investment decisions regarding green
technology and future fuels while navigating regulatory
uncertainty and evolving 昀椀nancing models. As a risk
management partner, we recognise that supporting
our members through this transition is essential.
Understanding new risks—whether regulatory, 昀椀nancial, or
operational—will be key to providing tailored coverage and
strategic guidance.
The digital transformation of the industry continues
to create both opportunities and challenges. At
The Swedish Club, we have embarked on several
initiatives to leverage IT and artificial intelligence (AI) in
strengthening our operations, enhancing risk analysis,
and improving member services.
The Swedish Club | Annual Report 2024
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