News

River navigation: what costs and trends for claims in 2024?

Published

03 July 2024

Read time

4 minutes

Did you know?

The year 2023 was marked by a significant decrease in the number of claims reported by our insured clients in the river sector (-11% between 2022 and 2023 and -23% between 2021 and 2023). However, the claims in 2023 were of a much higher intensity with a provisional cost for insurers of +49% compared to 2022.

In 2021, it represented 39% of the total cost for insurers over the last three years. A slight decrease of -5% is noted between 2021 and 2023 pending the finalization of the files.

The transportation of goods is, without a doubt, the most affected sector of activity.
Transporteurs marchandises

A closer look at claims by sector

Over the last 3 years, claims suffered by goods carriers have accounted for 59% of the number of claims, while our portfolio of private individuals has accounted for only 15%. Passenger transport comes second with 26% of the total number of claims.

The provisional cost to insurers follows this pattern, with freight carriers accounting for 72% of the total cost of claims in our "river" portfolio.
It should be noted that while the number of claims suffered in this sector of activity has fallen by 22% between 2021 and 2023, its intensity is only 9% higher.

In contrast to freight carriers, passenger carriers experienced an increase in the number of claims in 2022, with 2023 returning to a frequency similar to that of 2021. However, the intensity of claims for this activity has remained stable over the last three years, with a slight drop in the cost to insurers of -9% in 2023.

Where do the losses come from?

The origin of the losses is varied:

  • Boardings,
  • Dock/lock collisions
  • Weather events
  • Bulky waste collection, etc...

Thefts and acts of vandalism have decreased by over 50% between 2021 and 2023. However, they have resulted in a cost increase of over 127% between these two years. These acts have mainly affected our portfolio of passenger boats and individuals, sparking a debate on securing access to the docks.

If the typology of claims is varied, three categories of events are nevertheless recurrent:

  • The clashes at the dock/lock
  • The clashes of bulky waste collection/clashes of background
  • Technical incidents (tels que le bris de machine, dégâts des eaux, etc…).

60% of the number of claims are related to these events, the intensity of which represents more than 75% of the total cost for insurers. Proportionally, it is indeed the transportation of goods by waterway that is most affected by these events. While collisions and technical incidents are related to navigation and boat operations, grounding incidents are generally linked to the maintenance and upkeep of waterways.

Sinistralité fluviale

What is the situation with regard to accidents on rivers in the region?

The Seine has been a key asset in the preparations for the Olympic Games and will be at the heart of the opening ceremony. Yet it is the river with the highest number of claims in France, accounting for more than 60% of the number of claims opened for our policyholders (note the high concentration of our river portfolio in the Ile de France and Normandy regions).

While the frequency of claims over the last three years has been fairly stable on all French rivers, the Seine has seen a significant drop in the number of incidents between 2021 and 2023 (-34%).
On the other hand, the cost of claims on the Seine in 2023 has returned to a level similar to that in 2021. The Rhône and Loire rivers have incurred almost the same cost over the last three years. While the frequency of claims is much higher on the Rhône, the intensity of claims on the Loire is much higher.
With regard to the type of incidents, a drop in the number of bulky items/bottom debris was observed over 2022 and 2023, but with a more regular recurrence on the Seine. It should be noted that the intensity of these incidents on the Seine was lower in 2023.

As far as collisions with quays and locks are concerned, 2023 was a very intense year on the Seine (77% of claims paid by insurers on all rivers for this type of incident).
Conversely, technical incidents were kept under control by our policyholders, with a drop of 46% recorded on the Seine between 2021 and 2023.

The trends of 2024

The first quarter of 2024 aligns with that of 2023 in terms of the number of claims. However, a positive trend is emerging: no claims have been reported among passenger carriers, with 95% of open cases involving freight carriers.

The Seine, which accounted for 70% of claims in the first quarter of 2023, sees this proportion decrease to less than 40% in 2024. However, an increase in incidents is observed on the Rhône and outside of France. The most recurring types of claims remain the same: obstructions/ground impacts, technical incidents, and quay/lock impacts. It is still too early to estimate the total cost that insurers will have to bear this year.