Facts + Statistics: Marine Accidents

There were 38 large ships totally lost in 2022, a decline from 59 in 2021, according to latest data from Allianz. Safety & Shipping Review 2023 reports improvements in maritime safety have been significant over the past 10 years.

The region encompassing South China, Indochina, Indonesia and the Philippines had the largest number of shipping losses in 2022 with a total of 10. The region has ranked first in shipping losses over the past decade.

A World Without TRIA: Incalculable Risk

The Terrorism Risk Insurance Act (TRIA) and its successors have been an important support to efforts to supply terrorism insurance through the private market. Since the program was enacted, the percentage of companies purchasing terrorism insurance has risen to 80 percent, and the price of coverage has fallen more than 80 percent.

 

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Background on: Terrorism risk and insurance

Overview

Besides the tragic loss of human life, the economic costs of terrorism are immense: increased security and anti-terrorist expenditures, consumer and investor uncertainty, supply chain and business continuity disruptions, industry retrenchment – all and more can have negative impacts on economic growth.1

Background on: Crop Insurance

Overview

Agricultural production is subject to many uncertainties, including natural disasters. Adverse weather, insect infestations and plant diseases can severely reduce the yield or quality of a crop, wiping out a farmer's profits for the whole year in a bad season.

Crop insurance is purchased by agricultural producers, including farmers, ranchers and others to protect against either the loss of their crops due to natural disasters, or the loss of revenue due to declines in the prices of agricultural commodities.

Facts + Statistics: Aviation and drones

World Aviation Accidents

In the United States, the National Transportation Safety Board (NTSB) compiles data on aviation flight hours, accidents and fatalities for commercial and general aviation, which is private transport and recreational flying.

Facts + Statistics: Hurricanes

The official Atlantic hurricane season runs from June through November, but occasionally storms form outside those months. Seasonal hurricane forecasting from Colorado State University is available here.

Facts + Statistics: Commercial Lines

The Commercial Insurance Market

Property/casualty insurance can be broken down into two major categories: commercial lines or types of insurance and personal lines. Personal lines, as the term suggests, include coverages for individuals—auto and homeowners insurance. Commercial lines, which account for about half of U.S. property/casualty insurance industry premium, include the many kinds of insurance products designed for businesses.