Central Insurance of Iran’s safety and damage prevention department has released statistics on its marine coverage performance.
Domestic insurance companies paid 367.9 billion rials ($12.3 million at the official exchange rate) for marine insurance claims during the last calendar year (ended March 20, 2015). According to the figures, insurers issued 537 policies for ships, indicating a huge drop of 83% compared to the previous year’s 3,169 policies.
However, insurers’ total premium revenues reached 1.351 trillion rials ($45.1 million), showing a notable decline of a little less than 20%compared to the previous year’s 1,685 trillion rial ($55.4 million).
Insurers have indemnified losses for 358 marine insurance claims, 18 of which were worth over three billion rial ($1 million).
