The number and impact of major and total hull losses has remained low since 2016, a trend that has continued into the first half of 2018, according to figures by the Nordic Association of Marine Insurers (Cefor).
The overall claims frequency continues its positive trend and stabilizes at a relatively low level, and total loss frequency reached a minimum again in the first half of 2018, and continues thus the last year’s trend with some oscillation at low levels.
Insured values dropped on average 2.5% on 2018 renewals. The improvement compared to the previous years is especially due to some recovery in the supply/offshore segment in 2018, following a recovery in the bulk market in 2017. However, it should be noted that Continue reading “Frequency of total hull losses at its lowest since 1996 reports Cefor”