Claims impact surprisingly low - except fires

Cefor released today its comprehensive hull claims trends as of 31 December 2021.

Highlights

• Suprisingly benign claims development - despite limited effect of the pandemic on vessel activity, an ageing world fleet, soaring inflation and more. 
• There is one exception: Fires.
• Container vessels
  • Extraordinary value increases on renewal
  • High demand but supply chain issues
  • Major loss impact stronger than in other segments
  • Fires! 

Besides standard hull trends for claims frequency, severity and vessel values, Cefor turned this year the spotlight on the following:

• Fires 
• Inflation
• Claims frequency in the context of vessel activity

The Cefor statistics highlight recent hull claims trends and give an overview over the Nordic marine insurance market. 

Check all trends in detail here: 2021 NoMIS reports & Press release