NoMIS Stats per 31 December 2019
Major losses return - Fires a concern Major claims impact returned in 2019 to the average expected level. Fires a concern, particulary on large container vessels Overall claims frequency remained at a stable level around 23%. Total loss frequency continues long-term positive trend. Reduction in insured values continues for certain vessel types Special focus analyses Besides the standard ocean and coastal hull trends for claims frequency and severity, Cefor turned this year the spotlight on the following issues: The fire challenge - Containers et al. Claims frequency versus vessel speed (bulk, container, tank) Impact of geography on claims - Examples seasonality and rivers Detailed NoMIS reports for ocean and coastal hull business provide breakdowns of claims trends by vessel type, age group, size group, insured value bands and other subgroups. The trends are illustrated by key figures such as claims frequency and claim cost by vessel and the average cost per casualty. 2019 Cefo...Read More
2019 June Cefor Hull trends report
- Major losses are back after 3-year period without losses in excess of USD 30 million.
- Excluding total losses, claim cost per vessel stayed at same low level in the first six months of 2019 as in the preceding three years
- Total loss frequency continues to stay at low level.
- Overall claims frequency rises in 2019 as compared to 2018, but not exceeding recent years' moderate level of 22%
- Drop in insured values on renewal 4.1% in first half of 2019
Special feature: Fires on container vessels
Read the whole report here.