Major claims on hold18.06.18, Statistics
A special article in this year's Annual Report is dedicated to how a change of a vessel's owner or flag impact the claims frequency.
Major claims above 30 USD million stay absent for another year, but the top 1% most expensive claims account for between 30% and 60% of the total claims cost in any year. The (non-)occurrence of major losses makes annual results increasingly volatile and less predictable.
The overall claims frequency stabilized around 23% and total losses continue their long-term positive trend.
The reduction in insured values on renewal slowed down in 2017. Only the supply/offsore segment had another double-digit value decrease in 2017 renewals, while the bulk sector saw signs of recovery.
The statistics highlight recent hull claims trends and give an overview over the Nordic marine insurance market. Check all hull trends here:
2018 NoMIS reports & Press release