Cefor rings alarm bell over upturn in high-value claims above $10m

A marked upturn in higher value hull and machinery claims is reported by Cefor, the Nordic Association of Marine Insurers.

Although the marine insurance market remains weak and ship values are down, there has been an increase in total losses and for claims above $10m.

“The claim cost per vessel is on the rise, and there is no longer a softening market for claims,” Cefor managing director Helle Hammer told the organisation’s annual meeting and seminar in Oslo this week.

Although