Cefor - Annual Report /Annual General Meeting

04.04.2008
CEFOR Annual General Meeting and Seminar 2008 "Crewing in a global perspective"
After the CEFOR AGM, 3 April 2008 at Grand Hotel, Oslo, Managing Director Helle Hammer gave an overview over the state of the marine insurance market:
Managing director Helle Hammer, CEFOR: State of the market

At the following mini-seminar with the theme "Crewing in a global perspective", Hkan Friberg, Managing Director of the Swedish Shipowners Association, and Arne Birkeland, COO of Norwegian Hull Club, addressed the issue from different angles.

The 2007 CEFOR NoMIS Report (Nordic Marine Insurance Statistics)
Here again is the annual update of the annual NoMIS statistics report, with comprehensive claims data by age group, vessel types, size groups and further key figures. Download the report here:
The 2007 NoMIS Report

The 2007 CEFOR Report on Hull Claim trends
13 March 2008, CEFOR members gathered for a one-day seminar, organised by CEFOR's Statistics Forum, to shed more light on the recent disturbing claim trends and their possible causes. As a supplement to CEFOR's own extensive claims statistics, Principal Safety Consultant Torkel Soma from Det Norske Veritas was invited to give his view of the current risk situation from the class point of view. Both presentations are available for download here: 
2007 CEFOR Hull Claim trends
Reducing accidents and achieving Safety excellence (Torkel Soma, DNV)

03.04.2008
Soaring claims costs set to transform marine insurance market
2007 confirmed an alarming trend with the average hull claim cost rising 86 per cent over the last five years. And with claims costs likely to continue growing in the future, the industry must take further steps to manage costs without risking safety.   
Read whole press release!

CEFOR Annual Report 2007
Now available here!

20.03.2007
CEFOR Marine insurers: No risk no reward
Serving an industry characterised by the emergence of new and more complex risk, marine insurers are under significant pressure to adapt quickly to meet the evolving demands of their customers. To succeed, marine insurers cannot afford to be reactive: they must take the initiative to develop the tools to manage the new market reality.
Read whole press release!

CEFOR Annual General Meeting & Seminar: "Comply with the ethical rules of the game - or fail"
After the CEFOR AGM, 20 March 2007 at Grand Hotel, Oslo, Managing Director Tore Forsmo gave an overview over the state of the marine insurance market:
Managing director Tore Forsmo, CEFOR: Market key figures 

At the mini-seminar with the theme "Comply with the ethical rules of the game - of fail" the following two speakers took the challenge to address the issue from different angles: the philosophical versus the business-oriented:  
Dr. Henrik Syse: "Ethics - in the heat of battle"
Sven Mollekleiv: "The New Risk Reality"

CEFOR Annual Report 2006
Now available here!

The 2006 CEFOR NoMIS Report (Nordic Marine Insurance Statistics)
Here again is the annual update of the comprehensive annual NoMIS statistics report. Judging from historic underwriting performance and cyclicality in premium rates, a sound basis for premium calculation is sorely needed. Although calculations of expected claims cost on individual fleets require expert judgement and more detailed statistics, the report does shed some light on claim costs in a macro perspective, by focusing on indices measuring claims per vessel, tonnage, sum insured and premium. Any feedback welcome to astrid.seltmann@cefor.no! 
Please download the report here:
The 2006 NoMIS Report

13.02.2007
CEFOR AGM 2007 - Seminar " Comply with the ethical rules of the game - or fail"
Eva Joly, speaker at the seminar at Grand Hotel, Oslo, in connection with CEFOR AGM 20th March, has now been called away on a journey to Africa with the Norwegian Minister of International Development. This is unfortunate for us, but we are very pleased that Dr. Henrik Syse, on such a short notice, has accepted to speak at the seminar:

Dr. Henrik Syse is Head of Corporate Governance, Norges Bank Investment (Norway)

13.02.2007
CEFOR AGM 2007 - Seminar " Comply with the ethical rules of the game - or fail"
The speakers at the 2007 CEFOR seminar, held in conjunction with the CEFOR Annual General Meeting for invited guests and members, will be Eva Joly and Sven M�llekleiv.  
Speakers: Eva Joly and Sven M�llekleiv, see MiniCV

05.04.2006 (updated 30.05.2006)
CEFOR Annual General Meeting 2006 & Seminar: "Managing Risk in Arctic Waters"
After the CEFOR AGM, 4 April 2006 at Grand Hotel, Oslo, Managing Director Tore Forsmo gave an overview over the state of the marine insurance market:
Managing director Tore Forsmo, CEFOR: Market key figures 

New of the year was a two hour mini-seminar on "Managing Risk in Arctic Waters", where the following themes were presented: 
Professor Willy �streng, Ocean Futures: "Arctic Transport - Cold and Troubled Waters in a Geopolitical Perspective"
Senior meteorologist John Smits, Norwegian Meteorological Institute (www.met.no): "Challenges in Today's Arctic Weather, and Changes under a Global Warming. Area of Focus: Barents Sea"
Senior Vice President Wilhelm Magelssen, Det Norske Veritas: "Cold Climate Trading": 
1) Part 1, slide 1-22 (11MB), 2) Part 2, slide 23-44 (6MB), 3) Ice Edge Climatology (animated, slide 7 of pres.)
Commodore Geir A.M. Osen, Norwegian Coast Guard: "Operational Risk in Arctic Waters".

04.04.2006
CEFOR calls on industry to embrace transparency
In an effort to encourage the industry to work more closely together to manage common issues, CEFOR has taken a leadership role in calling on industry stakeholders to share vital information. CEFOR managing director Tore Forsmo believes that in order to move forward, the industry must embrace transparency. �We live in the Information Age, a time when the concept of �transparency� has come to define how businesses interact with each other, organisations and society,� he says. �Increasingly, the public is demanding access to crucial information related to health, safety and the environment, and the industry has an obligation to make that information available.�
Read whole press release!

CEFOR Annual Report 2005
Now available here! (16 MB)

The 2005 NoMIS Report - Norwegian Marine Insurance Statistics
The annual NoMIS report on Hull & Machinery statistics is probably the most comprehensive statistics report available in the market. Judging from historic underwriting performance and cyclicality in premium rates, a sound basis for premium calculation is sorely needed. Although calculations of expected claims cost on individual fleets require expert judgement and more detailed statistics, the report does shed some light on claim costs in a macro perspective. The report was completely revised a year ago and focuses on indices measuring claims per vessel, tonnage, sum insured and premium. Any feedback is welcome to astrid.seltmann@cefor.no! 
Please download the report here:
The 2005 NoMIS Report

18.03.2005
CEFOR Annual General Meeting 2005
Download Managing director Tore Forsmos presentation given at CEFORs Annual General Meeting on 15 March 2005, at Grand Hotel in Oslo:
Managing director Tore Forsmo, CEFOR: Market key figures 

Guest speaker at the Annual General Meeting was Ingebrigt Steen Jensen, who shared his philosophy with the audience on which characteristics make some enterprises more successful than others, why a good human capital culture and policy is so important in this context and which features are essential to achieve a good internal culture and team spirit..  

Read whole press release!

CEFOR Annual Report 2004
Now available here!

02.04.04
CEFOR Annual General Meeting 2004
Download presentations given at CEFORs Annual General Meeting on 1 April 2004, at Grand Hotel in Oslo:
Managing director Tore Forsmo, CEFOR: Market key figures 
Guest speaker Claes Isacson, Gard: The Gard concept 

01.04.04
Bullish shipping market not good enough: marine insurers must improve their bottom line
Marginal improvements throughout 2003 are not enough to curb substantial unbalance in today's marine market , says managing director Tore Forsmo.

Read whole press release!

01.04.04
CEFOR Annual Report 2003
Now available here!

11.04.03
CEFOR Annual General Meeting 2003
Managing director Tore Forsmo presented market key figures at the CEFOR Annual General Meeting 2003 on 10 April 2003 in Oslo.
Download presentation here!

10.04.03
Disastrous fifth-year consecutive loss to jack marine insurance premium
Managing director Tore Forsmo is calling for marine insurers to initiate premium increases of at least 25%-35% per year for the next two years to combat previous negative trends in the global marine insurance industry and cover large 4th quarter 2002 losses.

Read whole press release!

10.04.03
CEFOR Annual Report 2002
Now available here!

22.03.02
CEFOR Annual General Meeting 2002
Managing director Tore Forsmo presented recent market figures at the CEFOR Annual General Meeting 2002 on 21 March 2002 in Oslo.
Download presentation here!

21.03.02
Key market showing marine insurance rebound...
Sustainability paying off - Norway continue marine growth
Norwegian marine underwriters are back on track according to new figures released today by CEFOR. Results for hull & machinery insurance show a significant premium increase from 2000 to 2001 amidst a reduction in the number of vessels insured by the market. Says managing director Tore Forsmo: "The results are indeed incouraging and bear witness of how commitment and sustainability is prevailing in an indrusty troubled with extreme volatility." 
Read whole press release!

21.03.02
CEFOR Annual Report 2001
Now available here!

12.03.02
Premium Figures and Market Shares 2001 for the Norwegian Marine Insurance Market 
The CEFOR Annual Report 2001 will be released at the Annual General Meeting the 21 March 2002. In the meantime view the spreadsheet showing the market figures for 2001.
Norwegian Marine Market Figures 2001

30.03.01
CEFOR Annual Report 2000
Now available here!

29.03.01
Premiums on the rise - Shipowners to expect substantial increases
Norway's "Central Union of Marine Underwriters" (CEFOR) released new figures today indicating that results for hull&machinery insurance are improving. However, although better than estimated last year, results are still far from acceptable as loss ratios for 1998 to 2002 are still predicted to remain well above 100%. Says managing director Tore Forsmo: "We have already witnessed rate increases on many acocunts from the most recent renewals. This is a long overdue development, but shipowners should prepare for rate increases in the order of 100% to restore an equilibrum in international marine insurance".
Read whole press release!

10.04.00
CEFOR Annual Report 1999: 
Annual Report 1999

30.03.00
Global Marine Insurance Markets Loses US$ billion in 1999
Read complete press release

15.04.99
Annual Report 1998
View publication.

11.11.98
Time to get some brains back in the business - Marine underwriters on their way to the Wizard of Oz ?
- Severe losses is no longer a possible feared consequence of the weak insurance market but an occurred fact in all markets, says Tore Forsmo, managing director of Norway's Central Union of Marine Underwriters (CEFOR). - Come 1999, the logical consequence will be to pull out or increase premiums to accurately reflect the risks underwritten.CEFOR Press Release


Cefor - Member Info

12.12.2008
Mretrygd and Tromstrygd new members of CEFOR
Mretrygd Gjensidig Forsikring and Tromstrygd Gjensidige Sjforsikring are admitted as new members of the Central Union of Marine Underwriters CEFOR from 1^st January 2009.

Mretrygd is a mutual insurance company with head office in lesund, Norway.  The company was originally founded in 1871 as Aalesunds og Moldes Gjensidige Skibsassuranceforening, a company serving the fishing fleet in and around lesund.  Mretrygd is the result of a number of mergers through the past years.  The latest mergers were between Nordvest Sjforsikring Gjensidig and Mretrygd Gjensidig Sjtrygdelag as from 1st January 2002 and with VBforsikring, a non-marine mutual as from 1st August 2008.
www.moretrygd.no   

Tromstrygd is a mutual marine insurance company primarily serving the fishing industry. The company was originally founded in 1964, and is a result of a merger between twelve mutual insurance companies in the counties Troms and Finnmark. Tromstrygd has its head office in Troms, Norway.
www.tromstrygd.no      


09.01.2006
New CEFOR member 

Gerling Norge A/S Marine Hull joined CEFOR with effect from 1 January 2006. Gerling is active in the ocean hull segment, with a portfolio of about 4.600 vessels and a premium income of about 56 million USD in 2005. Gerling Norge A/S Marine Hull has its office in Oslo. For more information on the Gerling-group, click here. 

29.10.03
Further strengthening of the Scandinavian Marine Market
Norway Energy & Marine Insurance (NEMI) joins CEFOR 
The CEFOR Board of Directors unanimously approved the NEMI application for membership in a board meeting last week. NEMI ASA (until recently known as NEFO Fender) will be joining CEFOR as a new member effective from 1 January 2004.
Read whole press release!


18.06.02
New CEFOR members 
Bluewater Insurance ASA and Codan Marine Services AS join CEFOR with effect from 1 July 2002. 
Bluewater Insurance ASA is an Oslo based company specializing in writing hull insurance for oceangoing tonnage. For more information about the company, click here. 
Codan Marine Services AS has its offices in Bergen and is asubsidiary of the Danish insurance company Codan. 
For more information about the company, click here.

The new members Bluewater and Codan Marine mark a further consolidation of CEFOR as a leading ocean hull market, which means more competitive edge for the individual CEFOR member in the international market, says Managing Director, Tore Forsmo, pleased that the two new actors on the Nordic marine scene so swiftly became CEFOR members.

18.06.02
Amended war risks trading limits - Indian ports
The Norwegian Shipowners' Mutual War Risks Insurance Association has issued a circular dated 7 June 2002 concerning amended war risk trading limits. A new item S) has been added concerning Indian ports North of 18 degr. N, West of 73 degr. East.
Association Circular No. 578

18.09.01
Terrorist acts in the U.S. affect Norwegian war risk premiums
The Norwegian Shipowners' Mutual War Risks Insurance Association gives notice of considerable premium increases following the terrorist acts in the U.S. last week. "We must expect that the premium increase will be considerable, in particular for cruise and passenger vessels. The additional premiums for breach of trading warranties are also anticipated to increase significantly" says Managing Director Ole Henrik Eide. 
For additional information see
Association Circular No. 573
Association Circular No. 574


Cefor - Newsletter

01.11.2007
CEFOR Newsletter, December 2007
is available now, with following features: Solvency II - Broker's commission to be banned? - Norwegian Ship Safety Act 2006 - Master of Arts in Marine Insurance and Risk Management - Bunker Oil Spills - HNS Protocol - IUMI Conference 2007 and Spring Meeting 2008 - Nordic Marine Insurance Days 2007. Download the newsletter here: 
CEFOR Newsletter December 2007
If you wish to subscribe (for free), please send a note to hilde.spro@cefor.no. 

01.11.2006
CEFOR Newsletter, October 2006
is available now, with following features: Report on 2006 IUMI Conference in Tokyo - New Ship Safety Act - Proposed ban on broker's commission from insurers - 2007 Version of the Norwegian Plan.
If you wish to subscribe (for free), please send a note to hilde.spro@cefor.no. Download the newsletter here: 
CEFOR Newsletter October 2006, Volume 4, Issue 1

20.12.2005
CEFOR Newsletter, December 2005
is available now, with following features: CEFOR Seminar: Nautical claims on the rise - No 2006 Version of the Marine Insurance Plan - New hope for Norwegian marine insurance - CEFOR members spearhead the work on an internation claims handling protocol. 
If you wish to subscribe (for free), please send a note to hilde.spro@cefor.no. Download the newsletter here: 
CEFOR Newsletter December 2005, Volume 3, Issue 2

25.07.2005
CEFOR Newsletter, July 2005  
is available now, with news features on: 
New structure for Nordic marine insurance cooperation - IACS Class Societies agree on common structural rules - Norwegian Ministry of Finance sets marine insurance transparency for substandard ships in the doldrums - The 2004 NoMIS Report - Proposal for a new act on ship safety. 
If you would like to subscribe (for free), please send a note to hilde.spro@cefor.no. Download the newsletter here: 
CEFOR Newsletter July 2005, Volume 3, Issue 1

03.12.2004
CEFOR Newsletter, December 2004  
is available now, with news features on: IUMI Conference 2004 Singapore - Revised Norwegian Cargo Clauses and Commentary - The Dublin claims conference - 'New' Marine Insurance training and education - and other themes. 
If you would like to subscribe (for free), please send a note to hilde.spro@cefor.no. Download the newsletter here: 
CEFOR Newsletter December 2004, Volume 2, Issue 2

12.08.2004
CEFOR Newsletter, July 2004  
is available now, with news features on: Norwegian Shipping White Paper - Statistics - IUMI conference 2004 Singapore - Nordic Pool Annual General Meeting . If you would like to subscribe (for free), please send a note to hilde.spro (a) cefor.no. Download the newsletter here: 
CEFOR Newsletter July 2004, Volume 2, Issue 1

11.12.03
CEFOR Newsletter, December 2003  
is available now, containing updates on: IUMI conference 2003 - Government Committee to propose new act on seaworthiness - Marine risk: pricing models and risk evaluation - Norwegian Insurance Plan: version 2003 - Revision of Norwegian Cargo Clauses.  If you would like to subscribe (for free), please send a short note to hilde.spro@cefor.no . 
Download the newsletter here: 
CEFOR Newsletter December 2003, Volume 1, Issue 2

08.07.03
CEFOR Newsletter, June 2003  
The first CEFOR Newsletter is available now, giving a brief insight into some of the issues currently on the CEFOR agenda. The next edition is planned for November 2003. If you would like to subscribe (for free), please send a short note to hilde.spro@cefor.no . 
Download the newsletter here: 
CEFOR Newsletter June 2003, Volume1, Issue 1

In 2003 CEFOR rejoined the Nordic Pool, initially for the benefit of the cargo insurers. Read more about it in the CEFOR Newsletter. Presentations held at Nordic Pool's Annual General Meeting 2003 in Gothenburg will be made available for download on Nordic Pool's own website www.nordiskapoolen.com 

Cefor - Other

26.11.2007
New CEFOR Energy and Offshore Forum
In 2007, CEFORs board decided to reestablish a CEFOR Energy and Offshore forum in addition to the existing fora for underwriting, claims handling, cargo, coastal hull and statistics (NoMIS). The Energy and Offshore Forum forum had its first meeting 6th November 2007.

22.10.2007
Welcome aboard, Helle!

See the complete new CEFOR team here:
http://www.cefor.no/organization/organization_staff.htm

16.10.2007, updated 22.10.2007
CEFOR NEWS: Ms. Helle Hammer to become new Managing Director

The Central Union of Marine Underwriters (CEFOR) is pleased to announce that Ms. Helle Hammer will commence as Managing Director on 22th October 2007.


Please download the complete News Release here:
CEFOR NEWS Release: New Managing Director for CEFOR


08.08.2007
Managing director Tore Forsmo to leave CEFOR
Managing Director Tore Forsmo has informed CEFOR�s Chairman of the Board of his resignation in order to take on a leadership position with Frontline Management AS in Oslo in late autumn this year. 

We wish Tore Forsmo all the best in his new post, says Bj�rnar Andresen, Chairman of the Board.

For more information see CEFOR circular No. 7/2007.

19.09.2007
CEFOR looking for new Managing Director
Please download the job advertisment and description here (in Norwegian):
New Managing Director for CEFOR

23.11.06
Nordic Marine Insurance Days 2007
CEFOR will host the Nordic Marine Insurance Days 2007. The conference will take place at Holmen Fjordhotell just outside Oslo Monday 11 and Tuesday 12 June 2007 in conjunction with Nor-Shipping. The conference programme will be announced later.

04.10.04
CEFOR History
Three volumes on the CEFOR history from 1911 to 1986 are available in Norwegian in pdf-format from "Introduction to CEFOR" (main menu on the left-hand side).

29.10.03
"Faglig Sj�forsikringsforum" 19 November 2003 
Come and join the CEFOR Marine Insurance Forum to discuss "Marine Risk: Pricing Models and Risk Evaluation" (in Norwegian), Wednesday, 19 November at 5 PM, at Shippingklubben, Oslo! Registration to hilde.spro@cefor.no by 14 November. For details see: 
Invitation Faglig Sj�forsikringsforum

22.10.03
Guidelines for the collection of premium
Marine insurers and particularly hull insurers have traditionally had a very flexible attitude to due dates for premium payments. A CEFOR project group of hull and P&I insurers presented its recommendations for a tougher collecting regime. The proposed guidelines approved by the CEFOR Board are thus the basic common denominator for both hull and P&I insurers. The guidelines are issued in CEFOR Circular No.9/2003.
Circular No.9/2003 (English)
Sirkul�re nr.9/2003 (norsk)

17.08.02
"Kleivstua", 21 August 2002: CEFOR Top Management Debate Forum
"Economic Balance in the "marine" markets - What is needed?"
The perspective of a marine underwriter (John Wiik, NHC), a broker (Hans Terje Anonsen, AON Group Ltd.) and a reinsurer (Heinz Grassold, Swiss Re Germany). Download their presentations:
John Wiik, NHC
Hans Terje Anonsen, AON Group Ltd.
Heinz Grassold, Swiss Re Germany

08.12.00
The Norwegian Marine Insurance Industry - Taking Charge
The Norwegian marine insurance market accounts for 15 - 20% of the global premium volume for the insurance lines "bluewater" hull and machinery (H&M) and protection and indemnity (P&I) respectively. Three of the top ten leading specialists in the global marine, energy and P&I industry are domiciled in Norway. Ambitions are high; the Norwegians are aiming at 25% global market share within the next ten years; "Twentyfive in Twentyten". To help achieve this objective, the players are joining forces under one market organisation for all marine underwriting in Norway.
Read the press release

 
Education

17.09.09
Invitation to Norwegian Marine Insurance Plan Training Course in Copenhagen 27-30 October 2009
Cefor and the Scandinavian Marine Agency (SMA) has the pleasure of inviting professionals in the marine insurance industry to a four day training course targeting The Norwegian Marine Insurance Plan of 1996, Version 2007. The seminar will be held in Copenhagen 27-30 October. Deadline for registration is 13 October 2009. Download the invitation for more details:
Invitation to NMIP training course

26.07.07
Master Degree in Marine Insurance and Risk Management
Details on the modules leading to a Master Degree in Marine Insurance and Risk Management as well as information on application procedures are now available here: http://www.jus.uio.no/nifs/nifs/seminar/marine_insur/index.html
You also find information on the education programme here:  Courses and in CEFOR circular No. 6/2007 (English version soon to come).

01.06.07
Master Degree in Marine Insurance and Risk Management
A detailed description of the modules leading to a Master Degree in Marine Insurance and Risk Management is now available for download here:  Courses.
For more information see CEFOR circular No. 6/2007 (English version soon to come).

11.01.2007
! Deadline for applications 2007 was February 1st. No further applications accepted this year.
! Next course will be held in 2008 and announced on this website.
Marine Insurance Law - New Course - Spring 2007 - Application deadlines
The application deadline for the subject Marine Insurance was 4 January 2007. However, exemption from this deadline has been granted all students interested in the subject JUR1450 Marine Insurance. All applications submitted prior to 1 February 2007 will be exempted from the deadline, insofar as the following procedures are complied with:
Application for exemption from the deadline must be submitted to the Student Information Office. For address details, please see: http://www.uio.no/studier/studentkontoret.html
Students who have previously not been enrolled at the University of Oslo must submit a Matriculation Form (http://www.uio.no/studier/opptak/immbestilling.html) or a Practical Competence Form (http://www.uio.no/studier/opptak/realkompetanse/generellekrav.html) with their application.
Once student status has been approved, semester registration must be completed. If your student status has been approved before 1 February 2007, semester registration can be completed online through the StudentWeb (http://www.uio.no/english/academics/registration/)
If your student status is not approved until after 1 February, a new application for excemption from the semester registration deadline has to be submitted. The application form can be obtained from the Student Information Centre at the Faculty of Law (info@jus.uio.no). The form is to be completed and returned to the Faculty of Law. In the form's Remark Section, please refer to agreement with Ida K. Johansen. Enclosed with this application must be a copy of your already approved student status.

06.12.06
Marine Insurance Law - New course - Spring 2007
A new course in Marine Insurance Law is launched for the spring term 2007 by the University of Oslo (UiO), and with support from CEFOR. The course will be taught in three two-day sessions with start up on February 15th 2007. Teaching language and exams will be in English. For a detailed description please download the following document:
Marine Insurance Law - Course description

Please direct any inquiries regarding application to the University of Oslo, see http://www.jus.uio.no/studier/opptak/valgemner/
or (Bachelor level) http://www.uio.no/studier/emner/jus/jus/JUR1450/index-eng.xml
or (Master level) http://www.uio.no/studier/emner/jus/jus/JUR5450/index-eng.xml .

This course is intended to be the first of a series of modules leading to a Master Degree in Marine Insurance and Risk Management. Information on other courses which will be part of this Master Degree will be published here soon.


IUMI (International Union of Marine Insurance)

30.09.2008
IUMI 2008 Vancouver 14-17 September - Facts and Figures Committee Reports
as presented at the IUMI conference, Monday 15.09.2008, by F&F Committee chairman Mr. Cedric Charpentier and vice-chairman and CEFOR analyst Ms. Astrid Seltmann. Including ladder statistics with reported claims and estimated ultimate results for underwriting years 1996 to 2007.
In addition to the presentations given at IUMI's plenary session, please find below additional statistical information issued by the F&F Committee, including two Fact Sheets for Hull and Energy as well as the F&F Press Release released Sunday 14.09.08.
Global Shipping Market Trends (Cedric Charpentier) & additional statistics
Global Marine Insurance Report (Astrid Seltmann)
2008 Fact Sheet Hull
2008 Fact Sheet Energy
2008 Press Release Facts and Figures Committee

All conference presentations are available for download at www.iumi.com.

11.03.2008

19.09.2007
IUMI 2007 Copenhagen
A - Facts and Figures Committee Reports
as presented at the IUMI conference in Copenhagen on Monday 10.09.2007 by F&F Committee chairman Mr. Tore Forsmo and CEFOR Analyst and F&F Committee member Ms. Astrid Seltmann.
Including ladder statistics for major markets with reported paid and outstanding claims and estimated final results for Underwriting years 1996 to 2006.
In addition to the two presentations given at IUMI's plenary session, please find below the new Fact Sheet issued by the Facts & Figures Committee and the F&F Press Release released Sunday 09.09.06.
Report on World Merchant Fleet (Tore Forsmo)
Global Marine Insurance Report (Astrid Seltmann)
Shipping Fact Sheet
Press Release Facts and Figures Committee

B - Facts and Figures Open Forum - Solvency II
Solveny II - An Introduction (Cosimo Turi)
Solvency II - Implications for the Marine Underwriter (Phil Ellis)

31.05.07
IUMI at IMO - Bulletin 1 May 2007
MARPOL Annexes I and II updated - Stricter vegetable oil and chemical rules - Passenger ship safety: new international standards.
Download Bulletin here: IMO Bulletin May 2007 or from www.iumi.com -> Liaison -> IMO.

05.10.2006 (updated 17.10.)
IUMI 2006 Tokyo
A - Facts and Figures Committee Reports
as presented at the IUMI conference in Tokyo on Monday 18.09.2006 by F&F Committee chairman Mr. Tore Forsmo and CEFOR Analyst and F&F Committee member Ms. Astrid Seltmann.
Including ladder statistics for major markets with reported paid and outstanding claims and estimated final results for Underwriting years 1996 to 2005.
In addition to the two presentations given at IUMI's plenary session, please find below a World Shipbuilding Statistics Report and the F&F Press Release as issued Sunday 17.09.06.
Report on World Merchant Fleet (Tore Forsmo)
Global Marine Insurance Report (Astrid Seltmann)
World Shipbuilding Statistics (Simon Stonehouse)
Press Release Facts and Figures Committee

B - Facts and Figures Open Forum - Container Vessels and Risk Aggregation
Container Operations and Risk Handling form the Port Point of View / Risks of misdeclared cargos (Captain James Mc.Namara)
Container Operations and Risk Handling from the Underwriter's Point of View

C - Ocean Hull Committee
Chairman's Report (Ole Wikborg)

All other presentations given at the Tokyo conference are available for download from IUMI's website www.iumi.com (-> Conferences -> Tokyo - 2006).
For any other information on the Tokyo conference please check  http://iumi-tokyo-2006.jp/.
  
03.10.2005
IUMI 2005 Amsterdam 
A - Report on Marine Insurance Premiums 2003 and 2004
as presented at the IUMI conference in Amsterdam on Monday 19.09.2005 by Facts & Figures committee chairman Mr. Tore Forsmo. Including ladder statistics for major markets with reported paid claims and estimated final results for Underwriting years 1996 to 2004!
Global Premium Presentation 2005 (Tore Forsmo)
Chairman's Report 2005, Facts & Figures Committee (Tore Forsmo)

B - Facts & Figures Committee's Open Forum 
OECD - Trade Development - GATS/WTO and OECD Template on Insurance Services  
       (Dale Andrew, OECD)
Shipping Capital Providers - Managing Financial Risks - Threats and Challenges 
       a) Presentation (ppt)              b) Background text (Word) 
       (Michael Parker, Citigroup)        
Managing Insurance Risk for the International Shipping Market  
       (Rolf Tolle, Lloyd's)
 
C - Class Statistics 2005:
Historical and current portfolio information for IACS classification societies, by vessel type, largest flags and tonnage groups, 2005 update:
Read me - Comments
Comparative Statistics 2005 - all classes 
Individual class statistics:
American Bureau of Shipping   
Bureau Veritas
Chinese Classification Society 
Class NK
Det Norske Veritas                  
Germanischer Lloyd                  
Korean Register                      
Lloyd's Register   
RINA                                      
Russian Register

05.10.04
IUMI 2004 Singapore presentations and new IUMI website
All presentations given at this year's IUMI conference in Singapore are now available for download from: http://www.iumi-singapore-2004.com.sg/downloads.cfm
Please also note that IUMI has redesigned its website www.iumi.com .

23.09.04
IUMI 2004 Singapore - Report on Marine Insurance Premiums 2002 and 2003
as presented at the IUMI conference in Singapore on Monday 13.09.2004 by Facts & Figures committee chairman Mr. Tore Forsmo. Including ladder statistics for major markets, comprising actual reported paid claims and estimated final results for Underwriting years 1996 to 2003!
Global Premium Presentation 2004
 
Class Statistics 2004:
Historical and current portfolio information for IACS classification societies, by vessel type, largest flags and tonnage groups, 2004 update:
Read me - Comments
Comparative Statistics 2004 - all classes 
Individual class statistics:
American Bureau of Shipping   
Bureau Veritas
Chinese Classification Society 
Class NK
Det Norske Veritas                  
Germanischer Lloyd                  
Korean Register                      
Lloyd's Register   
RINA                                      
Russian Register

22.10.03
IUMI 2003 Sevilla
All presentations are now available at www.iumi-sevilla-2003.org .

22.09.03
IUMI 2003 Sevilla 
Report on Marine Insurance Premiums 2001 and 2002
as presented at the IUMI conference in Sevilla on 17.09.2003.
Now also with ladder statistics for major markets, comprising actual reported paid claims and estimated final results for Underwriting years 1996 to 2002!
Global Premium Presentation 2003
 
Class Statistics 2003:
Historical and current portfolio information for IACS classification societies, by vessel type, largest flags and tonnage groups, 2003 update:
Read me - Comments
Comparative Statistics 2003 - all classes 
Individual class statistics:
American Bureau of Shipping   
Bureau Veritas
Chinese Classification Society 
Class NK
Det Norske Veritas                  
Germanischer Lloyd                  
Korean Register                      
Lloyd's Register   
RINA                                      
Russian Register

19.09.02
IUMI 2002 New York 
Report on Marine Insurance Premiums 2000 and 2001
as presented at the IUMI conference in New York on 18.09.2002:
Global Premium Presentation 2002
 
Class Statistics 2002:
Historical and current portfolio information by vessel type, largest flags and tonnage groups, based on latest information collected in 2002:
Read me - Comments
Comparative Statistics 2002 - all classes 
Individual class statistics:
American Bureau of Shipping   
Bureau Veritas
Chinese Classification Society 
Class NK
Det Norske Veritas                  
Germanischer Lloyd                  
Korean Register                      
Lloyd's Register   
RINA                                      
Russian Register

19.09.01
IUMI 2001
Report on Marine Insurance Premiums 1999 and 2000
as presented at the IUMI conference in Genova on 19.09.2001:
Global Premium Presentation 2001
 
Class Statistics
Read me - Comments
Comparative Statistics 2001 - all classes 
Individual class statistics:
American Bureau of Shipping   
Bureau Veritas
Chinese Classification Society 
Class NK
Det Norske Veritas                  
Germanischer Lloyd                  
Korean Register                      
Lloyd's Register   
RINA                                      
Russian Register

14.09.00
IUMI report on Marine Insurance Premiums 1998 and 1999
Download: Original IUMI2000 Pres
View Global Premium Report updated per 12th October 2000 including Japan premium volume:
Update Global Premium Report

13.09.99
IUMI Report on Marine Insurance Premium 1997
Access the report.


Norwegian Marine Insurance Plan

29.08.2008
Liability Insurance in Section 6 of Chapter 17 of the Plan and the Bunkers Convention
The Liability Insurance in Section 6 of Chapter 17 of the Plan is a limited P&I insurance, drafted years before the text of the Bunkers Convention was finalised. There can be doubts as to whether this insurance covers all aspects of liability under the Convention. Read more about this and a suggested Policy Clause in CEFOR Circular 5-2008.
Download CEFOR Circular 5-2008

20.04.07
Marine Insurance Seminar 17./18. April 2007 - 10 years anniversary of The Norwegian Plan
All presentations are now availabe for download (presentations with English title are in English):
Program
Hans Jacob Bull: Planen av 1996 - endringer og perspektiver
Skule Adolfsen: Hvorfor Norsk Sj�forsikringsplan?
Nicolas Wilmot: The Plan from the insurers point of view - Coordination challenges
Frode Berg: Planen sett fra et meglerperspektiv
Haakon Stang Lund: Planen sett fra et advokatperspektiv
Astrid Seltmann: Was it worth it? The statistics point of view
Einar Kvammen/Jostein Egeland: The Claims Lead concept - Stability & Reliability
Bj�rn Slaatten: Dispasj�rens rolle
Svein Ringbakken: DNKs spesialdekninger
Michael Harvey: The international perspective and use of the Plan

27.03.2007
Marine Insurance Seminar 17./18. April 2007 - 10 years anniversary of The Norwegian Plan
In cooperation with CEFOR, the Norwegian Shipowners' Organisation arranges a one-day seminar: "10 �r med norsk Sj�forsikringsplan - valuta for pengene?" ("10 years Norwegian Plan - was it worth it?"). The seminar will be arranged in Oslo on 17th and in Bergen on 18th April 2007 and will be held in Norwegian. Download the invitation with information on how to register and the program:
Invitation/Registration information  Program
Check also the Norwegian Shipowners' Organisation's website (in Norwegian): http://www.rederi.no/default.asp?V_ITEM_ID=518&AID=2899&TEMPORARY_TEMPLATE=79

04.12.06
Order the 2007 version of the Norwegian Marine Insurance Plan!

The 2007 version of the Norwegian Marine Insurance Plan comprises both the English and Norwegian editons. The Plan is available in electronic PDF format for instant downloading by following the link http://webshop.dnv.com/global/category.asp?c0=2642

The printed edition will be available in mid December 2006, and can be ordered now by following the same link.

The Commentary to Version 2007 has not been published in printed form, but it will be available on the Internet along with the Plan in December 2006. The Plan and Commentary, includng past editions, are found at the following internet address: http://www.norwegianplan.no.
(click picture for
a larger version)

17.11.06
Revision of the Norwegian Marine Insurance Plan - Version 2007
The 2007 version of the Norwegian Marine Insurance Plan of 1996 will be available in Norwegian and English on the Internet and in printed form by December. CEFOR Circular No. 13/2006 gives an account of the amendments and amplifications in the 2007 Version. Download CEFOR Circular No. 13/2006:
English Version           Norwegian Version

04.03.04
New web address for The Norwegian Marine Insurance Plan
The Norwegian Marine Insurance Plan internet version was moved to the following easy-to-remember web address: www.norwegianplan.no .

11.12.03
The Norwegian Marine Insurance Plan of 1996 - Version 2003
There will be no 2004 Version of the Norwegian Marine Insurance Plan. Some minor amendments to the Commentary agreed upon by the Standing Revision Committee may, however, be applied to new policies or renewals. Download CEFOR Circular No. 11/2003 for further information:
CEFOR Circular No. 11/2003 (English)             CEFOR Sirkul�re 11/2003 (Norwegian) 

11.07.03
The Norwegian Classification Clause 
Recent casualties also led to a discussion of the demand for class registration when insurers grant coverage under different insurance conditions. In the May 2003 edition of Norwegian Hull Club's publication "Network" therefore marine law expert Haakon Stang Lund illustrates in detail how this issue is covered by the Norwegian Marine Insurance Plan 1996, Section 3-14, and what Norwegian market practice is.
"The Norwegian Classification Clause", Network No.1, 2003

29.01.03
Version 2003 of the Norwegian Marine Insurance Plan
Finally, the 2003 Version of the Norwegian Marine Insurance Plan with Commentary is on the Internet. Download:
English Version
Norwegian Version

Information on the amendments of the 2003 Version:
Download CEFOR Press Release of today:
CEFOR Press Release January 24
and CEFOR Circular No. 11/2002:

English Version    

Order printed edition of the Plan at:distribution@dnv.com .

15.02.02
Norwegian Marine Insurance Plan of 1996, Version 2002
is now available in complete English and Norwegian version with commentaries, both on the net and in print. 
Printed editions can be ordered at: 
Sj�rettsfondet
P.O. Box 6706 St. Olavs plass
0130 Oslo (Norway)
Email address for orders: sjorett-adm@jus.uio.no 
Fax: + 47 / 22 85 97 50
English Version           Norwegian Version

21.12.01
Now online:
The Norwegian Marine Insurance Plan - Version 2002!
Download preliminary acrobat files of version 2002 of The Plan and Commentary. The English version of the Commentary, chapters 17, 18, and 19 will be available at the end of January 2002. The Plan and Commentary will then appear in the ordinary internet format. 

05.12.01
Revision of the Norwegian Marine Insurance Plan - Version 2002
The 2002 version of the Norwegian Marine Insurance Plan of 1996 will be available in Norwegian and English on the Internet and in printed form at the end of December. The English version of the Commentary will be available at the end of January 2002. CEFOR Circular No. 19/2001 gives an account of the amendments and amplifications in the 2002 Version. Download CEFOR Circular No. 19:
English Version           Norwegian Version


Other Insurance Conditions

09.10.2007
Marine Insurance Conditions for small vessels / Reviderte Sj�forsikringsvilk�r for n�ringsfart�y
Download the revised Marine Insurance Conditions for Commercial Vessels smaller than 15 metres or 25 gross tons in English and Norwegian version, CEFOR form No. 265, under Insurance conditions.

29.12.2004
New CEFOR Clauses for Hull and Machinery Covers
The clauses are for use with covers on other insurance conditions than those of the Norwegian Plan of 1996. They are available for free download by following the link "Insurance Conditions".
CEFOR Circular No 09/2004

CEFOR recommends its members to follow the Code of Practice regarding payments under SCOPIC
CEFOR Circular No 08/2004

21.10.04
Revised Norwegian Cargo Clauses and Commentary
The Norwegian Cargo Clauses and Commentary of 1995 have been revised by a Committee of cargo underwriters and representatives of Norwegian industry, trade and shippers with professor Hans Jacob Bull as Chairman. Although the revisions are few and moderate, the result is even more customer friendly Cargo Clauses than the 1995 Version. The Clauses are based on the Norwegian Insurance Contracts Act and are thus free of any warranties and give the insured a strong protection. The comprehensive Commentary offers explanations to each clause and detailed discussions on pertinent problems in cargo insurance. The Clauses and Commentary and available on this website for free download. Anybody who needs cargo insurance is welcome to negotiate a contract based on the Clauses.
Download the preface of the 2004 Version.       Go directly to the Clauses and Commentary.

03.03.04
Revised safety regulations for shipments to risk-prone areas
The revised editions of the CEFOR safety regulations for the carriage of goods to, from and within risk-prone countries and areas are now available for free download on our Insurance Conditions page. These safety regulations are supplemented by the CEFOR Cargo Clauses, also available there. The former safety regulations were released in 1996. The revision was carried out by the CEFOR Cargo Forum after having consulted shippers and carriers.

21.10.02
Marine Insurance Conditions for small vessels / Reviderte Sj�forsikringsvilk�r for n�ringsfart�y under 15 m eller 25 bruttoton, CEFOR Form. 260 
(Norwegian Version only). Vilk�rene kan lastes ned fra "Insurance Conditions" under avsnittet "Hull Clauses". CEFOR sirkul�re no. 10/2002 redegj�r for endringene og kan lastes ned fra "CEFOR Circulars".

01.11.01
Marine Insurance Conditions for small vessels / Reviderte Sj�forsikringsvilk�r for n�ringsfart�y under 15 m eller 25 bruttoton, CEFOR Form. 259 
(Norwegian Version only). Vilk�rene kan lastes ned fra "Insurance Conditions" under avsnittet "Hull Clauses". CEFOR sirkul�re no. 18/2001 redegj�r for endringene og kan lastes ned fra "CEFOR Circulars".

16.10.01
Download CEFOR Insurance Conditions! 
Various insurance conditions and clauses relating to hull, cargo and offshore rigs are now available for free download from our new "Insurance Conditions" section (click "Insurance conditions" on the left hand side). New clauses and conditions will be added when available.

20.11.00
CEFOR RIG FORMS 
The conditions for hull insurance of mobile offshore units, the CEFOR Rig Forms, were introduced to the marked in October 1994. The main set of conditions was CEFOR Rig Form No. 1 for Hull Insurance. In addition, four supplementary covers were issued, CEFOR Rig Form No. 2-5. CEFOR Rig Form No. 1 was amended in January 1995 by an addendum amending clause I.19.2 relating to the rate of interest. In November 1995 this amendment was included in the Rig Form issued as CEFOR Rig Form No. 1A. The CEFOR Rig Forms are based on the rules of the Norwegian Marine Insurance Plan of 1964 (the 1964 Plan). CEFOR Rig Forms were replaced in June 1997 by Chapter 18 of the Norwegian Marine Insurance Plan of 1996 (the Plan). 
Several mobile offshore units are, however, covered in the London Market on CEFOR Rig Form conditions. Policy wordings seem to be unclear, referring to insurance conditions such as "CEFOR Rig Form and the Plan". The question one may pose is to which Plan are such policies referring, to the 1964 Plan, or the Plan of 1996? The answer from our point of view is the 1964 Plan, as the CEFOR Rig Forms are based on this Plan. Any reference to the Plan of 1996 seems to be meaningless on account of Chapter 18 of this Plan which contains the rules for the insurance of offshore structures. 
CEFOR Rig Form No. 1 
CEFOR Rig Form No. 1A 
CEFOR Rig Form No. 2-5

Other

04.06.2008
IMO welcomes Security Council moves on Somali piracy
IMO Secretary-General Efthimios E. Mitropoulos has welcomed the adoption yesterday (2 June 2008) by the United Nations Security Council of a resolution authorizing a series of decisive measures to combat acts of piracy and armed robbery against vessels off the coast of Somalia.
Read whole press release at www.imo.org

24.04.08
Consultation on Insurance Block Exemption Regulation
On 17 April 2008, the European Commission announced a consulation on the future of the insurance block exemption which exempts from EU competition rules certain forms of co-operation between insurers. The European Commission has announced that the consultation is combined with targeted questionnaires to industry, national regulatory and competition authorities and consumer groups. The aim is to determine how the block exemption is being used and its impact on the various insurance markets in the EU. The deadline for responses is 17 July 2008. Read more here:
http://ec.europa.eu/comm/competition/sectors/financial_services/insurance.html

20.06.07
Nordic Marine Insurance Days 2007 Presentations
are now available for download here: Nordic Marine Insurance Days 11-12 June 2007

24.04.07
Nordic Marine Insurance Days 2007
CEFOR will host the Nordic Marine Insurance Days 2007. The conference will take place at Holmen Fjordhotell just outside Oslo Monday 11 and Tuesday 12 June 2007 in conjunction with Nor-Shipping. Download the program here:
Program Nordic Marine Insurance Days 2007 (updated 07.06.07)

12.01.2007
CEFOR voices concern over EU legislation
In a statement today, a leading marine insurance market has voiced strong concerns over proposed amendments in the EU Third Maritime Safety Package, regulating Classification Societies. In the EU proposal, classification societies when classing ships will mutually have to recognize and accept each other�s respective certification of components and materials.
Read whole press release!

09.06.2005
CEFOR urges class industry to come to a solution on Common Structural Rules
Norway's and Scandinavia's Central Union of Marine Underwriters (CEFOR) is concerned that the current disagreement over ownership and financing between the IACS class societies may seriously jeopardize the implementation of new Common Structural Rules for Tankers (CSR), targeted for 2006.
Read whole Press Release

14.03.2005
NOR  Shipping Opening Conference "Shipping: Moving the Global Economy Forward"
Tickets for the Opening Conference of the NOR Shipping trade fair (Oslo Lillestr�m 7-10 June 2005) may now be ordered. For more information see:
NOR Shipping Opening Conference  or www.nor-shipping.com 

01.07.2004
Joint Tanker Project (ABS - DNV - LR): Common Structural Rules for Double Hull Tankers
New draft class rules available for comments by 31 August on this website.

26.04.04
Norwegian White Paper ("Skipfartsmeldingen" - Stortingsmelding Nr. 31, 2003-2004)

presenting the Norwegian Governments vision as to Norway's future as a shipping nation, published 2 April 2004, can be downloaded here (Norwegian only; 155 pages - download may take some time):
Norwegian White Paper 2 April 2004

12.01.04 - updated 04.02.04
Hull Insurance of "Latent defects" - i.e. errors in Design, Material or Workmanship
Download this article, written by professor Trine-Lise Wilhelmsen, Scandinavian Institute of Maritime Law.
Hull Insurance of "Latent defects"

09.12.03
"The issue of Quality Market security for Marine and Energy Risks"
Marsh Christmas Dinner, 2 December 2003, Oslo
Again this year Marsh Marine & Energy invited a number of guest speaker to throw light on the current status of the market. Download Tore Forsmos presentation here:
"Quality Market security for Marine and Energy Risks", by Tore Forsmo

22.09.03
Trends in Marine Insurance 
Maritime Cyprus 21-24 September 2003
If you are interested in 1) what the problems in marine insurance have been, 2) some notions on risk assessment of bulk carriers and 3) Tore Forsmo's views on the future strategic choices for the marine insurance industry, then download his presentation given at Maritime Cyprus here:
Trends in Marine Insurance

19.12.01
Marine Insurance - what do we have in store?
"...O hear us when we cry to thee, for those in peril on the sea" 
                                                     (Eternal Father, Strong to Save)
Download Tore Forsmo's presentation at Skuld Klubbaften, 
Oslo, 18th December 2001.

21.11.01
EU Quality Shipping Thematic Network "ADVANCES"
Workshop, Athens, Greece, 14th November 2001
"Quality in Shipping - The role of Insurance" presented by Tore Forsmo (Download and run as Powerpoint Slideshow)
  

06.02.01
Broker's letter of Authority / Meglerfullmakt
In autumn 1999 the Norwegian Shipowners' Association, the Central Union of Marine Underwriters, the Mutual Marine Insurers' Committee and the Norwegian Insurance Brokers' Association decided to develop a standard version for a Broker's letter of Authority. A special group of experienced lawyers drafted a template, the final version of which was accepted by all four associations and has thus the status of an "agreed document". All associations recommend their members to use it as template and guideline for their future business agreements:
Broker's letter of Authority (English version)
Meglerfullmakt (Norwegian Version with explanation)

21.12.00
Aktuelle rundskriv fra Sj�fartsdirektoratet 
(Recent Circulars from the Norwegian Maritime Directorate)
Rundskriv - Informasjon og instruks om ordningen med frivillig
     delegering for skip registrert i NOR (only in Norwegian)

Rundskriv - Veiledning om beregning av milj�deklarasjon /
     Circular - Environmental Declaration guidance: registration and
     calculation
     Vedlegg / Annex:
     - Milj�deklarasjon / Environmental Declaration
     - Forskrift om milj�deklarasjon
     - Beregningsskjemaer
     - Calculation Forms

23.11.00
Frontline November 2000 - Cruising in $ Water
Presentation given by Frontline CFO, Tom E. Jebsen, at the Marine Insurance Forum in Oslo 9th November 2000.

25.09.00
MARE FORUM 2000, Athens, Greece, 25-26th September 2000
Marine Insurance: Where is the industry heading?
See the presentations given by major market players:
(Download and run as Powerpoint Slideshow).
Tore Forsmo / CEFOR
Tom Midttun / Gard Services
Andreas Molck-Ude / Munich Re: Presentation and Speech
Hans Terje Anonsen / AON UK

16.06.00
The Third International Offshore Insurance Conference 5 - 6 June, 2000
With Cefor as organiser, Insurers and Brokers in the Norwegian energy insurance market arranged the third International Offshore Insurance Conference in Oslo 5 - 6 June, 2000. Once again, the event proved to be a great success.
Programme and presentations inside.