Engineering Insurance Premium and Loss Statistics

Transcription

1 The International Association of Engineering Insurers TM Engineering Insurance Premium and Loss Statistics Presented by Allianz Global Corporate & Specialty September 212 Rio de Janeiro, Brazil

2 Development of Engineering Premium all IMIA Members Change of total in % , ion , , ,918 8,583 9,25 IDI all other LoB

3 Development of Premiums per Line of Business % of total 9, premium (2.9) (3.3) (9.7) 8, (2.6) (3.3) (1.7) 9, (1.6) (3.6) (1.4) 3,765 (41.) 3,539 (4.2) 3,528 (37.5) IDI LOP EE M, BE, O CAR, EAR, G 3,958 (43.1) 3,89 (43.2) 4,46 (46.9)

4 Premiums and Claims 211 per Country (excl. IDI) Loss Ratio (%) Finland Sweden Taiwan Austria Mexico Netherlands Spain Switzerland Australia Turkey Brazil Canada Italy USA Japan Russia Germany Claims Premiums

5 IDI - Premiums and Claims 211 per Country Finland Sweden Taiwan Austria Netherlands Note: Only two countries reported IDI premium and losses Claims Premiums Loss Ratio (%) Mexico Spain Switzerland Australia Turkey Brazil Canada Italy USA Japan Russia Germany 5

6 *) Premiums / Claims / Total Amount Loss Ratios all Lines of Business (LoB) Premiums Loss Ratios for all claims and large claims in % 9,183 8,89 9,41 4,477 4,494 4, *) Note: >= 1. Mill US$ 6

7 *) Premiums / Claims / Loss Ratios M, BE, O Premiums Loss Ratios for all claims and large claims in % 3,766 3,539 3,528 2,99 2,45 1, *) Note: >= 1. Mill US$ 7

8 *) Premiums / Claims / Loss Ratios LoP Premiums Loss Ratios for all claims and large claims in % *) Note: >= 1. Mill US$ 8

9 *) Premiums / Claims / Loss Ratios EAR, CAR, Guarantee Premiums Loss Ratios for all claims and large claims in % 4,46 3,958 3,89 2,42 1,859 1, *) Note: >= 1. Mill US$ 9

10 *) Premiums / Claims / Loss Ratios EE Premiums Loss Ratios for all claims and large claims in % *) Note: >= 1. Mill US$ 1

11 *) Premiums / Claims / Loss Ratios IDI Premiums Loss Ratio for claims total and large claims in % 1, , 8, 7, , 5, 4, 3, 2, 1,, *) Note: >= 1. Mill US$ 11

12 Number of per LoB Total Engineering IDI EE LoP CAR. EAR. G M.BE.O

13 - Cause of Loss: all LoB A) Faulty Operation B) Faulty Material and Workmanship C) Faulty Design D) Fire E) Explosion F) Natural Hazards G) Other Causes A B C D E F G A B C D E F G A B C D E F G A B C D E F G A B C D E F G

14 - Cause of Loss: M, BE, Others A) Faulty Operation B) Faulty Material and Workmanship 93 6 C) Faulty Design D) Fire E) Explosion F) Storm 78 G) Flood and Inundation H) Earthquake I) Others A B C D E F G H I 27 14

15 - Cause of Loss: LoP 211 A) Faulty Operation C) Faulty Design E) Explosion G) Flood and Inundation B) Faulty Material and Workmanship D) Fire F) Storm H) Earthquake I) Others A B C D E F G H I 15

16 - Cause of Loss: EAR, CAR, Guarantee 211 A) Faulty Operation C) Faulty Design E) Explosion G) Flood and Inundation B) Faulty Material and Workmanship D) Fire F) Storm H) Earthquake I) Others A B C D E F G H I 16

17 - Cause of Loss: EE 211 A) Faulty Operation C) Faulty Design B) Faulty Material and D) Fire Workmanship E) Explosion F) Storm G) Flood and Inundation H) Earthquake I) Others A B C D E F G H I 17

18 - Cause of Loss: IDI 211 A) Faulty Operation C) Faulty Design E) Explosion G) Flood and Inundation B) Faulty Material and Workmanship D) Fire F) Storm H) Earthquake I) Others A B C D E F G H I 18

19 Main Items affected per LoB 211 A) Turbo Generator Sets B) Boilers and Pressure Vessels C) Compressors and other mechanical plants D) Electrical Machines and Equipment ion E) Production Machinery and Process Equipment F) Lifting and Transportation Equipment G) Chemical Plants H) Electronic Equipment I) Civil Engineering Works J) Erection of Plants K) Other Property A B C D E F G H I J K M. BE. O A B C D E F G H I J K LoP 22 A B C D E F G H I J K EAR. CAR. G 42 A B C D E F G H I J K EE A B C D E F G H I J K IDI 19

20 Key to the abbreviations BE CAR EAR EE G IDI LoB LoP M O Boiler Explosion Contractor s All Risks Erection All Risks Electronic Equipment Guarantee Inherent Defects (Decennial) Insurance Line of Business Loss of Profits (MLoP & ALoP) Machinery Breakdown Others Please note All figures are based on information supplied to IMIA by its Member countries. It should be borne in mind that these figures may not always contain IBNR provisions, and that premium patterns may vary between reporting member countries and companies. Inherent Defects Insurance (IDI), also called Decennial Insurance in French speaking countries, is written only in a few countries. It is a compulsory class of business in some of these. Due to the different legal situation and others specifics, the scope of cover varies greatly from country to country. Therefore any attempt to make comparisons is very difficult and may lead to wrong conclusions. Since IDI contracts grant cover for material damage caused by latent defects for a period of (usually) ten years as from completion of the contract works, special attention needs to be given to the issue of premium earning patterns during the policy duration. These patterns vary considerably from country to country and are even regulated in some of them by the insurance supervisory body. IMIA is not in a position to reflect the various regulations governing the administration of this line of business in the various countries nor can IMIA validate the method used by its members in establishing their figures. Therefore IMIA recommends to adopt particular care when drawing conclusions from premiums, claims figures and loss ratios reported herein especially in respect of IDI. For further details it is recommended to contact the IMIA-delegate from a particular member country to obtain more accurate information on the particulars of a specific line of business in his country. 2