Swedish Club analysis gives new insights into P&I claims
MARCH 16, 2015 — A report from the Swedish Club shows that the hazards and job issues that seafarers face very much depend on the type of vessel they serve on. In
MARCH 16, 2015 — A report from the Swedish Club shows that the hazards and job issues that seafarers face very much depend on the type of vessel they serve on. In
The club points out that experts need clear images to provide early remote assistance with incidents and the immediate actions required, and that insurers need evidence of the alleged damage and the losses suffered.
Currently, says Mike Harrison of marine consultancy Solis Marine Consultants, Ltd., when dealing with many fixed object damage claims – broken fenders, concrete or pile damage, crane contact – experts or insurers often have little to go on, “perhaps a quick sketch, a few pixelated images and a remarkably large bill for repairs and loss of use.”
Writing in the latest issue of the London club’s StopLoss Bulletin, Mr. Harrison says that in many cases, the immediate task of collecting and preserving evidence lies with the master and crew.
“Good photographs taken as soon as possible after the event are invaluable, and can easily be shared by email with a remote expert for instant advice on key issues,” he writes. “The expert can then identify where further detail might be useful, the signs of prior damage and perhaps dilapidation or poor design.”
“These days, $100 buys a camera capable of storing and taking quality images,” notes Mr. Harrison. “There is no need to compromise on quality or quantity.”
Mr. Harrison says that the bridge kit should include as a minimum:
“The camera should be kept on the bridge, fully charged with an empty storage card. Most cameras have an internal clock which should be checked and set to UTC. This time-stamp is used when the image file is stored, essential when the chronology of events could be questioned,” says Mr. Harrison.
The American Club says the investment will allow further expansion into the global hull & machinery segment, enabling it to offer high quality insurance services and innovative customer solutions.
American Hellenic will be a Cyprus-based and licensed, Solvency II compliant, wholly-owned American Club subsidiary. It will be managed from Piraeus, Cyprus and New York, utilizing the expertise of long-standing professionals in the marine insurance market and will be serviced through specialists in offices located in seven global shipping hubs with the ability to provide local market know-how and service to its customers, and to communicate in eleven languages.
The American Club will now be able to continue offering first class marine protection and indemnity cover while also, through American Hellenic, offering an expanded product line of marine insurance including hull & machinery, war risk, and mortgagee interest insurance.
The American Club’s Board voted unanimously for the initiative, which Chairman of the Board, Arnold Witte, called “an historic moment in the club’s long history.”
He noted that it was “sparked by the idea of Board member Angelos Kostakos” and was a unique opportunity to prudently expand the club’s market footprint.”
“American Hellenic is an investment in the American Club’s future and is yet a further step in expanding and diversifying the club’s product line,” said Vincent Solarino, President and COO of Shipowners Claims Bureau, Inc., managers of the American Club. “It is part of the club’s overarching plan to significantly increase its revenue across a growing range of product lines, its tonnage across all lines, andexpand its market presence, while increasing its S&P rating.”
Joe Hughes, Chairman and CEO of the American Club’s Managers, said: “This is one of the most significant developments in the American Club’s recent history. The transaction proceeded with the close and active cooperation of the Board of Directors of the American Club. I am certain that American Hellenic will prove to be a powerful force of growing energy within the international marine insurance industry.”
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