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Long-term decline in shipping losses continues but economic pressures, cyber risk and superstorms challenge safety progress

22 March 2016

• 85 large ships lost worldwide in 2015, down by 45% over a decade. • Regional disparities remain. Losses up in top global hotspot – South China and South East Asian waters. In 2015, East and West African coasts saw losses of six ships bringing the tally of vessels lost between 2006 and 2015 to 94. • Economic and market conditions are pressurizing costs, raising safety concerns. • Cyber exposure, driven by Internet of Things (IoT), e-navigation and piracy, “mega ship” salvage issues, superstorms and increasing Arctic casualties heighten risk environment. Piracy incidents down in West and East Africa, although the risk remains high.

Professional sports players urged to get proper insurance

17 March 2016

With numerous high profile sporting events already underway (including Super Rugby and ICC World Twenty20) and the upcoming IPL Cricket, professional sports players need to ensure that they have adequate sportspersons insurance policies in place to cover them against financial losses, which can occur as a result of injuries during tough training sessions or extreme physical tournaments.

What are the student protests costing the country?

16 March 2016

Since November last year, the public have been watching the havoc at the country’s universities unfold with an element of frustration and disgust. As we view the violence, we can only but wonder when this will end and how much it will cost the insurance industry.

Business interruption from a global perspective

07 March 2016

Approximately one in five businesses suffers a major business interruption each year. While it is not possible for companies to mitigate all of the risks, these events may affect and hinder organisations’ operational capacity.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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