Safety and Preparation on the Brownwater Radar
Weather Channel Forecasters are predicting a “near-average” hurricane season for 2016, but warn that an average season does not mean businesses and residents shouldn’t prepare for the worst. While it is unclear whether the season, which began June 1, will bring about a few mild storms or a catastrophic Category 5 hurricane, one thing is for sure: safety and preparation are on the radars of the owners and operators of brownwater vessels. Although forecasters consider this year’s predicted 12 named storms “average”…
Manage and Mitigate Risk on the Water
Early in the morning on August 29, 2005, Hurricane Katrina struck the Golf Coast of the United States. Hurricane Katrina was the worst insured loss event in the history of insurance anywhere in the world. It was bigger than 9/11. It was bigger than the earthquake and tsunami in Japan. Hundreds of thousands of people in Louisiana, Mississippi and Alabama were displaced from their homes. Barges were picked up by the waves and slammed onto shore, while some were moved so far inland that they ended up on top of freeways.
Venture Insurance Programs Acquires Tidal Solutions
Venture will rebrand and integrate Tidal Solutions specialty commercial marine products into its portfolio of industry leading programs. Venture Insurance Programs, a national insurance program administrator, today announced it has acquired Tidal Solutions, LLC, a Charlotte, NC-based managing general underwriter serving the North American specialty commercial marine market. Venture will integrate the Tidal Solutions marine products into its portfolio of industry specific insurance programs. The products, which include Hull & Machinery, Protection & Indemnity, General Liability and Maritime Employer’s Liability coverage, will be marketed nationwide by Venture under the brand TIDAL MARINE through Venture’s agent and broker network.
Marine Insurance & the “Human Factor”
Insurance underwriters of diversified maritime exposures see a wide variety of approaches taken by vessel operators to manage human error to control risk. They have found through experience that the majority of hull and liability claims can be traced to a breakdown in preparedness and decision-making. Maritime operators that set a high bar and build well-constructed methods of managing the human element of risk – and those that monitor it closely – can save significantly on insurance costs due to lower frequency and severity of claim activity. Managing the human factor is the most difficult of all risk management processes. We are all fallible and prone to error.
Steve Kennedy Re-joins Allianz from Zurich North America
Allianz Group’s specialist corporate insurer, Allianz Global Corporate & Specialty (AGCS), announce the appointment of Steve Kennedy as Head of Corporate Property and Inland Marine Claims, replacing Tony Clark who retired at the end of January 2014. Kennedy will manage a team of 18 professionals managing Property, Energy, and Engineering as well as Inland Marine claims for AGCS’s multinational clients. AGCS inform that Kennedy brings over 23 years of experience handling commercial property claims and over 14 years managing and training claims professionals. Kennedy joins Allianz from Zurich North America where he was Assistant Vice President. He previously served at Allianz from 1998 through 2010 in a variety of senior management positions.
24/7 On-The-Water Assistance for Boaters
Capt. Steven Moore, a former hired captain with the on-the-water towing company TowBoatUS Lake Lewisville, has purchased the business from his former boss, Capt. Jay Nunnally, who will remain with the company as a towing captain. Moore, who has boated on the lake for 30 years, is US Coast Guard licensed and carries a Masters 50-ton with commercial assistance towing certification. Much like an auto club for boaters, BoatUS offers on-the-water towing plans for freshwater boaters and anglers for just $58 a year, which includes BoatUS or BoatUS Angler membership.
vHH Medical Network Cuts Seafarer Healthcare Costs
Anker Crew Liability Insurance of the Netherlands has trimmed around 20 percent off the cost of medical treatment for seafarers falling ill or who are injured in the United States after it started using van Hall Health’s unique medical network. A year ago, Anker Crew Liability Insurance, part of the Groningen-based Anker Groep, approached Michael van Hall, founder of vHH, to create an international medical network designed to reduce the cost of medical treatment for seafarers covered under Anker’s programs. Anker’s insurance programs cover around 4,000 seafarers serving onboard 400 ships trading worldwide, but mostly to Europe, China, South America and South Africa. Around 40 to 50 of these ships call in the US each year.
