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Annual Report 2017
2017 is the second consecutive year with the absence of claims above USD 30 million. How the top 1% most expensive claims nevertheless account for minimum 30% of the total claims cost in any year is illustrated in this year's report.
In addition to marine hull claims trends, market overview and summary of the reporting year, the Annual Report features articles on the reactivation of mobile offshore units from the perspective of both marine insurers and classification societies.
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Annual Report 2016
Claims in hibernation
2016 enters history as the year with a complete absence of claims above USD 30 million for the first time in ten years and a record low number of claims above USD 5 million.
In addition to marine hull claims trends, market overview and summary of the reporting year, the Annual Report features articles on the Nordic Plan process, lay-up guidance for Mobile Offshore Units and autonomous vessels.
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Annual Report 2015
More total losses
After the extraordinary absence of major losses in 2014, in 2015 there were thirteen losses above USD 10 million. Seven of these were total losses. Falling insured values increase the probability of constructive total losses. In particular, the values of offshore supply vessels plummet.
A special section of the report compares the claims frequency of tanker, bulk and container vessels built in Asia from 2007 by country of build.