The potential cost of an ultra large containership catching fire was one of the extreme loss scenarios highlighted by outgoing International Union of Marine Insurance (IUMI) president Dieter Berg, as he addressed the organisation's annual conference for the last time.
In his parting comments, he told insurers that they should prepare to “think the unthinkable” at a time when potential claim values and risks are soaring and when there is “strict liability for environmental damage”.
