Hull constructive total losses likely to increase: Cefor

The ocean hull market is likely to see an increased number of
constructive total losses in the future as average claims totals
surpass average sums insured for vessels.
According to the Nordic Association of Marine Insurers (Cefor),
falling insured values and the failure of average claims totals to
similarly drop has led to an increased likelihood of claims
exceeding insured value, opening the possibility for greater
numbers of constructive total losses.
In its 2015 annual report, the associatio