ABSTRACT
The claims development from 1995-96 to 1996-97 was basically the same for the two vessel groups. The major change, however, is apparent in the final two years of the study period, with a significant reduction (over 30%) in hull claims involving ‘Phase 1’ vessels. Commenting on the results, Martin Hernqvist, loss prevention officer of the Swedish Club, said:
It is important to appreciate that this study highlights the relative positions of both groups and, therefore, the statistics do not show the development of actual number of claims dealt with by the club. This is not the important issue, as that is very much related to the level of deductibles. It is natural that more claims are reported to the clubs if deductibles go down. That has been the case, both for hull and P&I over the last years. What is important in this study is the investigation of whether the changes in deductibles followed a similar pattern for the two vessel groups. The findings were they did.
