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 Cefor Annual Report

2019 Cefor Annual Report - underlying figures for graphs
(Ocean hull figures in USD; Coastal hull figures in NOK)