2023 Hull trends - Increase in claims cost and frequency

Cefor released its 2023 hull trends based on data as per 31 December 2023. Highlights are: Upward trend in claims cost and frequency. Claims occured in 2022 showed a worse cost development in 2023 than claims of any previous year had in the following year.  Some increase in major losses in 2023, with fires representing the costliest claims. Container vessel values saw big downward corrections in the second half year of 2022 and in 2023 after big increases in 2021 and the first half year of...

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2023 Half-year hull trend report

Contents: Vessel values  again show a strong variation by segment in 2023 renewals. For the container segment, which saw big upward adjustments in 2021 and 2022, the trend started to reverse during 2022 and continues with substantial downward value corrections in 2023. On the upside, tank vessel values show value increases in 2023, and the supply/offshore segment signs of improval compared to the preceding years.   Claims frequency:  upward trend after 2020 and returning to pre-pandemic level...

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