2014 annual seminar
DESCRIPTION
2014 Annual seminar. Cefor Board of Directors as per 3 April 2014. Members: Svein Ringbakken , DNK, Chair Leif Nordlund , Alandia Insurance, Vice Chair Arne Gangdal , Gjensidige Christen Guddal , Gard Tord Nilsson , The Swedish Club Hans Christian Seim , NHC Rickard Svensson , If - PowerPoint PPT PresentationTRANSCRIPT
The Nordic Association of Marine Insurers
2014 Annual seminar
The Nordic Association of Marine Insurers
Cefor Board of Directors as per 3 April 2014
Members:
Svein Ringbakken, DNK, ChairLeif Nordlund, Alandia Insurance,
Vice Chair Arne Gangdal, GjensidigeChristen Guddal, GardTord Nilsson, The Swedish ClubHans Christian Seim, NHCRickard Svensson, IfAnne Systad, Codan
Personal Deputies:
Göran SkunckeJan LimnellPetter BøhlerJan-Hugo
MarthinsenLars RhodinJan LimnellJonny GangstadScott Ørmen
The Nordic Association of Marine Insurers
2012: The year of the titans
The Nordic Association of Marine Insurers
Frequency all-time low
Claims frequency by size of claims
The Nordic Association of Marine Insurers
Costly exceptions the new normal?
Claims per vessel by size of claims (USD)
The Nordic Association of Marine Insurers
Pricing challenge
Ultimate partial and total claim cost per vessel
The Nordic Association of Marine Insurers
Median values stable
Median claim cost (USD), claims in excess of a certain amount
0
2,000
4,000
6,000
8,000
10,000
12,000
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Number of vessels by typeby year of exposure
Other
Tank (Chem./Prod.,LNG, LPG, OBO, Tank)
Passenger
Cargo (Bulk, Cargo,Container)
Fishing
From 2010 improved reporting by coastal marine clubs => increase in number of minor fishing vessels
Coastal portfolio
Higher insured values = more volatile claim cost
Partial claim cost per vessel by sum insured layer, incl IBNR
The Nordic Association of Marine Insurers
Program
Shipping market outlookNicolai Hansteen, Senior Shipping Analyst, Pareto Securities
Marine insurance market outlookRolf Thore Roppestad, Chief Executive Officer, Gard
Sanctions due diligenceProf. Dr. Dieter Schwampe, Dabelstein & Passehl
Light Well Intervention vessels- How they operate- Insurance; drawing the line between marine & energyHåvard Ulstein, Managing Director, Island OffshoreGeorg Nygaard, Senior Underwriter Offshore Energy, Norwegian Hull Club