Claims analysed

Analysis of claims over a ten- year period by the UK P&I Club showed that two per cent of the claims account for 72 per cent of the costs incurred. The analysis of over 3,700 claims above $100,000 in ten years to the end of 1997 showed that 40 per cent were for cargo and 30 per cent for personal injury, but the overwhelming cause of third party claims was human error (78 per cent).

By far the majority of claims (754) came from the US at the cost of $341million, with the next largest from Japan (with 180 claims), while South Korea`s 97 claims cost $173 million. Also highlighted was the rise in cost of oil pollution following the Exxon Valdez incident – a trend that is continuing.

On the positive side the report shows that collisions have reduced sharply from a peak in 1990.