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Focus on safety reduces global insured shipping losses by 16%: Allianz

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A report by Germany-based specialty insurer Allianz Global Corporate & Specialty S.E.'s found that total insured shipping claims across the world declined 16% year over year to 85 claims in 2016 from 101 in 2015, due to the development of a more robust safety environment by ship owners, Handy Shipping Guide reported. More than a quarter of the losses occurred in the South China, Indochina, Indonesia and Philippines region.

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