According to The International Union of Marine Insurance, the past five years have seen an “unprecedented level” of cargo vessel fires, and improperly shipped hazardous materials and dangerous goods was a primary reason. (Credit: Raychel Lean/ALM) According to The International Union of Marine Insurance, the past five years have seen an “unprecedented level” of cargo vessel fires, and improperly shipped hazardous materials and dangerous goods were a major reason why. (Credit: Raychel Lean/ALM)

The U.S. Coast Guard (USCG) and National Cargo Bureau (NCB) are teaming with Munich Re to leverage the reinsurers’ predictive analytics and modeling abilities to better scrutinize data from cargo vessel fire inspections. The partnership will expand the datasets of both organizations, while Munich Re will also analyze the combined information to uncover trends and help make recommendations.

The program started with Munich Re examining the data and working with USCD and NCB to establish risk scores based on “deficient types and severities that could serve as proxies for how dangerous the results of an inspection are,” according to Janet Wesner, head of analytics at Munich Re U.S.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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