Marine insurance: Large ships increase risk of Tianjin incidents

The risk of incidents such as the explosion at the major Chinese port Tianjin with at least 100 casualties is far greater today, warns the International Union of Marine Insurance, IUMI.

Photo: Ng Han Guan/AP Photo

So far the official number of casualties has passed 100 in relation to the dramatic explosion at the major Chinese port Tianjin, where air pressure smashed windows two kilometers away. And the risk of the industry encountering more incidents of this type continues to grow, notes Dieter Berg, President of the International Union of Marine Insurance, IUMI.

He points to the growing risk of events where one episode leads to an exceptional amount of losses.

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