As trade tensions ripple across global markets, GT Insurance is reaffirming its commitment to flexibility, partnership, and forward-thinking marine coverage.
The latest round of US tariffs at the time of this article being written - 25% on Australian steel and aluminium, and 10% on other exported goods – has introduced a new layer of uncertainty for local exporters when they came into effect from 5 April 2025. Key sectors like beef and bulk freight could feel the squeeze, not just from direct tariff impacts but also from downstream competition as global exporters seek alternative markets. With the volatility and speed of announcements being made, the situation is subject to change.
Despite these developments, GT Insurance remains calm and ready. As a specialist underwriting agency with over 25 years of experience supporting heavy motor, marine, and machinery clients, the team is focused on helping brokers and their clients adapt with confidence.
“We understand the challenges our marine clients face when external pressures like tariffs disrupt trade flows or freight earnings,” said Steve Amey, head of distribution for Marine at GT Insurance.
“Our approach is always to work proactively with brokers to reassess policy terms, limits or structures to better match our clients’ real-time operating conditions.”
While the long-term impact of these tariffs remains uncertain, the short-term effect could be a decline in export volume or a reduction in freight margins - especially for clients relying on U.S. demand or exposed to global price competition.
GT Insurance is encouraging brokers to reach out if their clients are experiencing any drop in gross freight earnings or significant shifts in operational risk.
“Our marine insurance solutions are designed with flexibility in mind,” Amey added.
This collaborative, adaptive approach is a hallmark of GT Insurance. With a relationship-first model and national footprint across metro and regional markets, the company prides itself on fast, transparent decision-making and a commitment to real-world outcomes.
GT Insurance offers a range of annual, open cover, and single shipment policies for imports, exports and goods in transit around Australia. Explore and compare marine insurance products here.
In volatile times, the value of experience and ability to deliver flexible solutions becomes even more important. For GT Insurance, that means working hand-in-hand with its broker network to ensure that our risk solutions remain timely, relevant and commercially sound.
“The role of the broker is pivotal,” Amey stated. “They know their client’s operations inside out, and we rely on those insights to provide cover that’s not only fit for purpose but adaptable when conditions change.”
GT Insurance continues to invest in broker relationships and the development of tailored solutions across its marine portfolio, including cargo, hull, and carrier’s liability products.
This philosophy is part of a broader company-wide commitment to “Powering Progress” - helping Australian businesses move forward confidently, even when market conditions are complex.
© GT Global Transport & Automotive Insurance Solutions Pty Ltd as GT Insurance ABN 93 069 048 255 (GT Insurance)
Insurance products are issued by Global Transport & Automotive Insurance Solutions Pty Ltd trading as GT Insurance ABN 93 069 048 255 AFS Licence No 240714 as agent for the Insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFS Licence No 234708. Neither we nor the Insurer provide any advice on this insurance based on any consideration of your objectives, financial situation or needs. Policy terms, conditions, limits, exclusions and underwriting criteria apply. Before making a decision about it please refer to the relevant Product Disclosure Statement or Policy wording available from our website or by calling us. A Target Market Determination for each product is available from our website. If you purchase insurance, we will receive a commission that is a percentage of the premium. Ask us for more details before we provide you with any services.
GT Insurance is an award-winning specialist underwriting agency that has been catering to the needs of fleet and heavy vehicle operators for over 25 years. Fully backed by Allianz Australia Insurance, a merger with AM&T in early 2023 has created an even more diverse underwriting agency with specialised coverage across motor and machinery, marine and transit sectors. Our relationship-driven approach consistently earns GT recognition for its strength of relationships, quality of solutions, and our claims and customer service excellence. GT’s vision, ‘We’re all in to protect people’s livelihoods’ is a wholehearted commitment to brokers, customers and one another.
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