Independent journal on economy and transport policy
04:34 GMT+1
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Last year, the maritime insurance market recorded a modest recovery followed by the unknown Covid in 2020
In 2019, the value of insurance premiums in the maritime sector amounted to USD 28.7 billion (-0.9%)
September 15, 2020
Graham mentioned what has been this impact so far "A consequence of Covid," he noted, "is people travel less and buy less. This has been translated into a lower use of certain types of ships such as container carriers, cruise ships and yachts. A result direct - he explained - is the abnormally low level of claims reported in recent months.' Graham pointed out positive effect caused by the crisis: "in a few months -- he observed -- the coronavirus pandemic has moved many digital sectors, in particular the insurance sector, with the jump of at least a generation. In many ways this is and we must maintain this momentum."
Graham stressed, however, that maritime insurers are aware of the financial impact that the pandemic is having on many of their customers and the potential impact it could have on risk management.
III's annual report for 2019 indicates that in the year The value of insurance premiums in the maritime sector is 28.7 billion dollars, a reduction of -0.9% year-on-year, of which 46.3% of the total market 31.8% in Asia/Pacific, 10.3% in Latin America, 5.3% in North America and 6.3% in other markets. In 2019, the share Europe's overall economy fell slightly from 46.4% of GDP 46.3% the following year, while Asia's share is increased from 30.7% to 31.8%.
In relation to the main insurance sectors goods segment (15.6 billion U.S. dollars, -1,5%) continued to hold the largest share with 57.5% of the total the share of the Bodies segment (6.9 billion, up 0.2%) Is 24.1%, offshore energy segment 11.7% and the share of the Maritime Responsibility segment (excluding IGP&I) at 6.8%.
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Graham mentioned what has been this impact so far "A consequence of Covid," he noted, "is people travel less and buy less. This has been translated into a lower use of certain types of ships such as container carriers, cruise ships and yachts. A result direct - he explained - is the abnormally low level of claims reported in recent months.' Graham pointed out positive effect caused by the crisis: "in a few months -- he observed -- the coronavirus pandemic has moved many digital sectors, in particular the insurance sector, with the jump of at least a generation. In many ways this is and we must maintain this momentum."
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
