Transcript Document

WELCOME TO THE CEFOR ANNUAL SEMINAR
9 April 2015
CEFOR BOARD OF DIRECTORS AS PER 9 APRIL
Members:
Personal Deputies:
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Christen Guddal, Gard, Chair
Leif Nordlund, Alandia Insurance, Vice Chair
Arne Gangdal, Gjensidige
Jonny Gangstad, If
Tord Nilsson, The Swedish Club
Göran Skuncke, DNK
Hans Christian Seim, NHC
Anne Systad, Codan
Jan-Hugo Marthinsen
Jan Limnell
Petter Bøhler
Rickard Svensson
Lars Rhodin
Svein Ringbakken
Arne Birkeland
Scott Ørmen
2014 HULL CLAIMS TRENDS IN MARINE INSURANCE
NORDIC MARINE INSURANCE STATISTICS (NOMIS)
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Ocean and coastal hull claims
1985 - 2014
339,000 registered vessel years
81,000 claims
CLAIM PER VESSEL BY SIZE OF CLAIMS
BY DATE OF LOSS
HIGH-VALUE VESSELS = EXPENSIVE LOSSES
Distribution of number of vessels by insured values (underwriting year)
Photo: Rvongher / Wikimedia Commons
CLAIMS IN EXCESS OF USD 10 MILLION AS % OF TOTAL CLAIM COST
CLAIMS FREQUENCY
, BY DATE OF LOSS
Influencing factors:
‐ Increased deductibles
‐ Reduced repair costs
‐ Slightly younger & larger
vessels
‐ Reduced vessel utilization
THE EXCEPTION…FIRE!
Fire/Explosion claims frequency by vessel type group
DISTRIBUTION OF CLAIMS BY TYPE OF CASUALTY
Numbers (%), 2010-2014
by date of loss
Costs (%), 2010-2014
by date of loss
COASTAL & FISHING VESSELS SEGMENT
• 135,000 vessel years
• 25,000 claims
• Fishing vessels = 47%
CLAIMS FREQUENCY PER SUM INSURED LAYER
INCL. IBNR, BY DATE OF LOSS
DISTRIBUTION OF CLAIMS BY TYPE OF CASUALTY
Numbers (%), 2010-2014
by date of loss
Fishing vessels
Costs (%), 2010-2014
by date of loss
• Cyber risks
‐ Virtual pirates at large
Lars Jensen, CEO, Cyberkeel
‐ Insurance coverage &
regulation
Glenn R. Legge, Partner, Legge
Farrow Kimmitt McGrath & Brown
L.L.P.
• Pioneering the new Nordic
construction risk clauses for
MOUs
Jasper Neuteboom, Fleet Insurance
Manager, BW Offshore Ltd.
1900 hrs:
1930 hrs:
Aperitif
Dinner