Fire and explosion incidents are behind the most expensive insurance claims in the marine industry, while cargo damage is the most frequent cause of loss, reports Insurance Business quoting a report by Allianz Global Corporate & Specialty (AGCS).
In a recent report, AGCS analysed more than 240,000 marine insurance claims worldwide between January 2017 and December 2021, worth approximately €9.2 billion (SG$13.05 billion) in value. The insurer then identified several claims and risk trends that...
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