ShippingWatch

Major increase in damage claims leads Skuld to notify customers of substantial price hikes

Before long, Skuld will start negotiating with customers on prices for insurance premiums, and it could lead to increases upwards of 10-20 percent. There are three reasons for the price hikes, CEO Ståle Hansen tells ShippingWatch.

Photo: Skuld

That activities are on the rise in shipping is good for carriers' financial health, but it also leads to more port collisions for vessels because there isn't enough capacity and perhaps also because of the struggle of getting to the quay first.

As a result, marine insurers such as Skuld can, on the one hand, be pleased that customers will be better balanced financially, but they also have to pay out more money, as there are simply more damages involving vessels on the water.

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