Although shipping losses declined again in 2014, the threat of cyber attacks and large losses from ever-increasing ship sizes are new threats to the maritime sector. As with other business sectors, the risk of cyber criminals targeting technology on board a vessel or attacking a major port could result in significant business interruption costs, notwithstanding liability or reputational losses.
According to Allianz Global Corporate & Specialty SE’s (AGCS) third annual Safety and Shipping Review 2015, which analyzes reported shipping losses of over 100 gross tons, shipping losses continued their long-term downward trend with 75 reported worldwide in 2014, making it the safest year for shipping in 10 years.
[Related: Covering the global marine marketplace]
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Jayleen R. Heft
Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].
