Large shipping losses have declined by more than a third over the past decade, but new cyber and climate risks, along with human error, threaten safety progress, according to global insurance firm Allianz Global Corporate & Specialty. Recent events such as the collision of the oil tanker “Sanchi” and the impact of the NotPetya cyber attack on harbor logistics … [Read more...]
Shipping Losses Continue Decline But “Perfect Storm” Looms -Report
Large shipping losses have declined by 50% over the past decade, largely driven by development of a more robust safety environment by ship-owners, according to Allianz Global Corporate & Specialty SE’s (AGCS) fifth annual Safety & Shipping Review 2017. In 2016, there were 85 total losses reported around the shipping world, down 16% compared with a year earlier (101). … [Read more...]