Claims in hibernation
Increasing volatility by major claims impact - Total losses back to long-term positive trend - Depressed shipping markets drive insured values further down - Which role play lay-ups for the claims frequency?
Cefor published the Nordic Marine Insurance Statistics as of December 2016 in conjunction with its Annual General Meeting 06 April 2017.
The statistics highlight recent hull claims trends and give an overview over the Nordic marine insurance market. The impact of large claims on the overall claims cost has increased over the past years, and their volatility makes annual results more unpredictable. 2016 has seen a further drop in insured values, especially in the bulk and offshore segment, and the influx of newbuildings into the portfolio has slowed down in line with a reduced number of ships on order.
Check all hull trends here: 2017 NoMIS reports & Press release
(Ocean and coastal hull trends derived from NoMIS portfolio)