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<div class="moz-cite-prefix">Concerning these statistics on safety
of maritime operations, I think care is needed in interpreting a
link with the role of insurance. The NIOSH data concerns the "U.S.
water transportation industry", so I assume (I'm certainly not an
expert on maritime safety) is concerned by at least some safety
regulation. <br>
</div>
<div class="moz-cite-prefix"><br>
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<div class="moz-cite-prefix">If you consider international maritime
operations, where safety regulations are weak, some large
operators at least have quite reasonable occupational safety
records. For example Maersk suffered 3 employee fatalities (5
including contractors) in 2019 and 1 in 2020, for 84000 employees,
a rate of 3.6 and 1.2 per 100000 workers. MSC suffered 1 fatal
accident in 2019 for 70000 employees, a rate of 1.4. LTIF rates
for the two companies are around 1.2, similar to construction work
in many countries, which is generally heavily regulated. <br>
</div>
<div class="moz-cite-prefix"><br>
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<div class="moz-cite-prefix">Sources: <br>
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<div class="moz-cite-prefix">
<a class="moz-txt-link-freetext" href="https://www.maersk.com/about/sustainability/reports">https://www.maersk.com/about/sustainability/reports</a></div>
<div class="moz-cite-prefix">
<a class="moz-txt-link-freetext" href="https://www.msc.com/bwa/sustainability">https://www.msc.com/bwa/sustainability</a><br>
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<div class="moz-cite-prefix"><br>
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<div class="moz-cite-prefix">I'm not sure that it is easy to find
data that can help establish this link between presence/level of
insurance coverage and safety (large insurers and reinsurers
presumably have some data available, but it's sensitive). It would
be possible, and I think interesting, to compare the type of
interactions that take place between regulators and regulated
entities, and the interactions between insurers and insured
companies. In particular because safety regulators in various
sectors are increasingly adopting "soft law" approaches as a
complement to traditional compliance-based enforcement.<br>
</div>
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<div class="moz-cite-prefix">Eric</div>
<div class="moz-cite-prefix"><br>
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<div class="moz-cite-prefix"><br>
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<div class="moz-cite-prefix">On 13/04/2021 02:17, Phil Koopman
wrote:<br>
</div>
<blockquote type="cite" cite="mid:5f7b23fc-3b1b-46b7-87f0-4fc8c15c1007@gmail.com">
I appreciate the various replies -- thanks!<br>
<br>
I'm still sorting through my particular angle on this topic, and
further comments are welcome, but I wanted to pause to express my
appreciation at response so far.<br>
<br>
It seems that at least in some cases a confounding issue is
whether an elevated risk is associated with increased profits. For
example, if insurance premiums are small compared to profit, then
you could increase profit more easily simply by scaling up
operations even at elevated risk rather than spending time
reducing a small piece of your expense pie. This would argue
against insurance premium economic pressure necessarily leading to
lower risk in the absence of regulation.<br>
<br>
A potential case in point here might be commercial maritime
operations. I understand the primary pressure to keep risk in
check here is insurance rather than regulation. But that has
resulted in a significant fatality rate.<br>
<br>
For example:<br>
<a class="moz-txt-link-freetext" href="https://www.cdc.gov/niosh/programs/cmshs/marine_transportation.html" moz-do-not-send="true">https://www.cdc.gov/niosh/programs/cmshs/marine_transportation.html</a><br>
"From 2011–2017, there were 87 fatal injuries (18.4 per 100,000
workers) among marine transportation workers, nearly <b><u>six
times the rate of all U.S. workers</u></b>."<br>
<br>
This one shows some improvement over time, but still a high ratio
compared to other occupations:<br>
<a class="moz-txt-link-freetext" href="https://academic.oup.com/occmed/article/64/4/259/1464740" moz-do-not-send="true">https://academic.oup.com/occmed/article/64/4/259/1464740</a><br>
"During 2003–12, the fatal accident rate in shipping (14.5 per 100
000) was <b><u>21 times that in the general British workforce,
4.7 times that in the construction industry and 13 times that
in manufacturing</u></b>. Of 20 merchant fleets worldwide with
population-based fatal accident rates, most have shown large
reductions over time."<br>
<br>
More to understand, but an interesting topic, at least to me so
far.<br>
<br>
-- Phil<br>
<br>
</blockquote>
<br>
<pre class="moz-signature" cols="72">--
Web: <a class="moz-txt-link-freetext" href="https://foncsi.org/">https://foncsi.org/</a>
Twitter: @LaFonCSI / @TheFonCSI / @LearnRiskEng (personal)</pre>
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