Braemar: Ask Questions to Cut Casualties, Costs

press release
Monday, September 24, 2012

Underwriters should be asking more questions at the time of placing or renewing marine insurance to reduce the risk of major incidents and cut unnecessary costs, suggests Braemar (Incorporating The Salvage Association).

 

Speaking at the International Union of Marine Insurance annual conference in San Diego last week, Regional Director for the Americas, Richard Gayton, said the vulnerability of vessels to both attritional and major losses should not be masked by the label of human error. He called for underwriters to ask more detailed questions when rating or determining the need for a Risk Assessment survey to ensure these vulnerabilities were properly identified at the time of placing.

 

With manning levels having more than halved in the past sixty years and automation on board resulting in fewer technical personnel , Mr Gayton pointed out that recruiting surveyors to survey damages, review tenders, monitor repairs and approve costs will ultimately significantly reduce restoration costs when casualties do occur.

 

“Underwriters play a pivotal role in our market, having driven necessary industry changes in the past whilst industry players have dragged their heels. More pointed questions by underwriters at placing, especially regarding crewing levels and training, could make a real difference to restoring unjustifiable deficiencies, and so cutting casualties and costs.” he said.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Casualties

Bulker Loses Propulsion off California

The U.S. Coast Guard is monitoring a 587-foot bulk carrier Ultra Lascar after the ship lost propulsion at 10:20 a.m., approximately five miles offshore from Daly City, Calif.

Cyclone Roanu kills 21 in Bangladesh

A cyclone battered coastal Bangladesh on Saturday, killing at least 21 people and injuring many more, but has now weakened into a depression that the weather office

Human Remains and Belongings Found from Plane Crash at Sea

Egypt said on Friday its navy had found human remains, wreckage and the personal belongings of passengers floating in the Mediterranean, confirmation that an EgyptAir

Maritime Safety

Atlantic Hurricane Season Could be More Active

The Atlantic Ocean could be gearing up for an active hurricane season, meaning North American residents may want to pay attention. In recent years, single hurricanes

Container Weight Regulations

Starting July 1, 2016, the International Maritime Organization’s (IMO) Maritime Safety Committee approved amendments to The International Convention for the Safety of Life at Seas’ (SOLAS),

Ardent Earns ISO 9001:2015 Certification

Ardent, formed just over a year ago as a merger of A.P. Moller-Maersk’s Svitzer Salvage and Crowley’s Titan Salvage, has been issued the ISO 9001:2015 Certification

Insurance

Towing Vessel Inspection Bureau Elects New Leaders

Towing Vessel Inspection Bureau Holds Annual Membership Meeting; Elects New Leadership and Votes to Proceed with a Third Party Organization Application to the Coast

NTSB Determines Faults Leading to Fatal Collision

In examining the deadly collision of tugboat/barge Caribbean Sea/The Resource with Amphibious Passenger Vehicle DUKW 34, the U.S. National Transportation Safety

London P&I Club Reports Increased Free Reserves

The London P&I Club’s result for the 2015/2016 financial year produced an overall operating surplus of $3.3 million, lifting the free reserve to $160.7 million.

Consulting

IMO to Prevent Cyber-attacks

At a meeting of the IMO's Maritime Safety Committee (MSC), it was recognised that ships may also be exposed to so-called cyber-attacks. Now, the IMO wants to

APL Reduces Carbon Emissions by 45.5%

APL today announced that it has reduced its fleet carbon dioxide emissions by 45.5% in 2015, compared to its emissions level in 2009. This achievement marks APL’s

Rising VLGCs fleet Impact LPG Freight Rates

LPG shipping freight rates are forecast to deteriorate further through 2016 as a result of the fast rising fleet of Very Large Gas Carriers (VLGCs) which has already

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1057 sec (9 req/sec)