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Marine insurance union says percentage of overall hull losses down to record low


Figures from the International Union of Marine Insurance show that the percentage of overall hull losses has dropped to a record low, Nigerian newspaper Business Day reported.

The frequency fell in 2013 and is now at a record low of 0.13% in terms of numbers. MOL Comfort, which sank off the coast of Yemen in mid-2013, significantly affected the cargo insurance market with a projected insured loss of between $300 million and $400 million, reports Business Day.

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