NoMIS - as of 31 December 2020
2020: Claims impact reduced but fires prevail
The main trends in 2020 were
- Substantial reduction in overall claims frequency and cost
- Impact of major claims at lowest level since 2005.
- Vessel segments reacted differently to Covid-19
- No reduction in large loss frequency for container vessels
- Fires especially prevalent
Besides the standard hull trends for claims frequency, severity and vessel values, Cefor turned this year the spotlight on the following with in-depth analysis:
- Covid-19 impact on hull trends
- Fires - No all-clear signal
- Claims frequency versus vessel speed (bulk, container, tank)
Cefor Analyst Astrid Seltmann explained above ocean hull trends and the global context which influenced them in a webinar 13 April. The presentation is available here.
In addition to the main trends as presented in the Cefor Annual Report, detailed NoMIS reports for ocean and coastal hull business are available for download. These 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. Also exposure curves for ocean hull business are made available.
2020 Underlying figures Cefor Annual Report (graphs in annual report)
(Ocean hull figures in USD; Coastal hull figures in NOK)