Shipping losses and casualties decreased overall in 2016 by about 16 percent, according to a new report from Allianz Global Corporate and Specialty (AGCS), but Allianz warned that the maritime industry – and their insurers — shouldn’t expect entirely smooth sailing in the future due to regional disparities, regulatory constraints, and cyber risks.
“We continue to see improvements in maritime safety, but the price of safe navigation is constant vigilance,” said Captain Andrew Kinsey, senior marine risk consultant at AGCS. “The maritime sector is entering a period of considerable change and unrest from economic pressures, technology and political factors. There is a perfect storm of increasing regulation and narrowing margins.”
Read more at http://www.advisenltd.com/2017/06/14/shipping-losses-drop-cyber-Allianz/
Erin Ayers, Shipping losses drop, but ‘perfect storm’ of maritime cyber risks remain: Allianz (June 14, 2017), available with subscription at Advisen Professional Front Page News.
Advisen Ltd. 