• 2021 Claims impact surprisingly benign - except fires

    Cefor released its 2021 hull trends based on data as per 31 December 2021. Highlights are: Suprisingly benign claims development - despite limited effect of the pandemic on vessel activity, an ageing world fleet, soaring inflation and more.  There is one exception: Fires. Container vessels Extraordinary value increases on renewal High demand but supply chain issues Major loss impact stronger than in other segments Fires!  Besides standard hull trends for claims frequency, severity and vessel values, Cefor turned this year the spotlight on the following: Fires  Inflation Claims frequency in the context of vessel activity The Cefor statistics highlight recent hull claims trends and give an...

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  • Fires - still burning

    A new Cefor fire trend analysis, based on reported casualties as per year-end 2021, illustrates that fires have not shown the same positive trend as most other casualty types. Of special concern is the high occurrence of fires on container-carrying vessels and Car/RoRo vessels. The recent fires on the car carrier 'Felicity Ace' in the Atlantic ocean and the passenger ferry 'Euroferry Olympia' in Greek waters illustrate the danger fires on vessels pose to crew, cargo, passengers and environment. To improve the understanding of fires onboard container and car/RoRo vessels, the analysis includes comprehensive statistics split by the location of the fire onboard showing the impact of fires in...

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  • 2021 Cefor June Hull trends report

    Contents: One year into the COVID-19 : The changes since 2020 and how their impact on hull trends. Claims frequency : Slight upward trend compared to 2020 but still below previous years' levels.  Fires : Contrary to the last years' trend in the overall claims frequency, the frequency of fires does not show any downward trend into 2021 either. See special section 6. Total loss frequency : continues to stay at a very low level. Major losses : Five losses in the USD 10-30 million range were reported in the first half year of 2021. Three of these were fires which continue to be a concern also in 2021, particularly fires on container vessels.   Claim cost per vessel : Some increase compared to...

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