According to the last report by Allianz Global Corporate & Specialty (AGCS), accidents related to cargo losses accounted for over 60% of the cases, increasing for the first time in three years. At this time, the most frequent cause is foundered (sunk/ submerge) followed by bad weather.
However, losses in the maritime sector remain stable during the year 2015, declining to 3% decrease to 85, the lowest number in a decade.
Large shipping losses reduced over 45%, emphasizing the improvements on environmental policies, among other regulations as well.
The document also reveals that more than a quarter of all losses occurred in the Asian region: South of China, Indochina and Philippines.
Economy hits shipping sector
Pressures of a weak global economy and excess of ships in the maritime market have an impact on security concerns, caused by a progressive decrease in areas such as maintenance and repair, crewing training, cargo security, among others.
AGCS also mentions cyber-piracy is as one of the risks that can affect maritime industry: “More needs to be done to educate companies”, says Allianz.
Part of ICI efforts focus on keeping you apart from these statistics. That is why we invite you to look at our policies and plans made by qualified professionals to offer you the best coverage in case of risks associated with maritime transport, containers and cargo losses.
More about ICI:
International Container Insurance is a dynamic corporation dedicated to worldwide container insurance, backed by first class international reinsurers that offers risk management programs on a global scale. ICI is focused on providing a quick response for claim analysis and inspections, as well as cutting edge technology to ensure the high quality services to their clients expectatons. As a leader in its category of intermodal insurance, ICI is continuously developing and optimizing programs.
For more information, please visit: https://www.icicoverage.com/