海险遭遇挑战

On 3 May 2003,a COSCO cargo carrier “Fu Shan Hai“ collided with a Polish containership in the sea east of Denmark and sank later. It was reported that the insurance premium for M/V “Fu Shan Hai“ is as high as US＄30m. It is the ever large claim case in the marine insurance history of the People‘s Insurance Company of China (PICC). Though PICC launched its emergent compensation procedure and paid 70m yuan (RMB) to COSCO, this is far from enough to fill the hole. The “Fu Shan Hai“ accident gave a hard strike on the marine insurance market, worsening the difficult situation of marine insurance in China. In recent years, we have often heard the calling for making China a “large shipping and shipbuilding nation“, while our marine insurance market has been in stagnancy, which disappoints those insurance tycoons who have been kept waiting for long time.

Marine Insurance Meets Challenge