Marine insurance CEO: Two big threats to shipping

Two big factors will be predominant in the future threat-scenario in shipping, assesses John Wiik. He has been the CEO of the marine insurance company Norwegian Hull Club for 31 years, and can look back on an industry that has undergone fundamental changes, he tells ShippingWatch.

Two big threats lurk in the industry for insurance and shipping in the coming years: cyber crime and software collapse as well as mega-vessels.

This is the assessment from John Wiik who has been the head of Norwegian Hull Club for 31 years, and in 2016 will leave the marine insurance business to retire with several decades of intensive industry knowledge under his belt. These two risks are not far off in the future but on the contrary, the marine insurance companies have already been in discussions for years on how to face them.

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