Five Questions Reinsurers Need to AskBy Brian Panebianco | June 12, 2013
Are you looking for cargo loss data to use in rating inland marine reinsurance treaties? CargoNet, a division of Verisk Crime Analytics, has recently made available cargo loss data for the United States going back through 2010. The information includes data on several hundred incidents above major attachment points. Reinsurers have indicated to us that such information can help improve inland marine underwriting. It’s the first industrywide view of cargo theft available.
Based on what we’ve seen in the data — and learned from our conversations with the market — CargoNet has identified five crucial questions inland marine reinsurers should ask about cargo loss:
1. Where are the losses occurring?
2. What do thieves want?
3. What makes larger thefts different?
4. How does cargo theft work?
5. What can I do about it?
To get a free data sample, contact Garry Rivell, vice president of Insurance Services, at 201-469-3274 or email@example.com.
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