Allianz warns on potential spike in accidents brought about coronavirus-inspired downturn

Insurer Allianz’s annual shipping review, published today, warns the consequences of coronavirus and a sustained economic downturn could threaten long-term safety improvement and trigger an uptick in losses from cost-cutting measures, fatigued crew, and idle vessels. “We know from past downturns that crew and maintenance budgets are among the first areas that can be cut …

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