Hull and machinery insurances are normally placed with a group of insurers. The assured will often employ a broker to assist with negotiation and contract administration. A central feature of claims administration is to give one of the insurers the power to act on behalf of all the insurers involved in matters relating to claims — the claims leader. Casualty handling, in particular, has become very demanding due to the increasing technical complexity of vessels, media attention and the need to deal with authorities in a wide variety of jurisdictions.
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Rhodin sees problems with full disclosure of terms
Swedish club managing director and chairman of the International Union of Marine Insurance (IUMI)’s Ocean Hull Committee, Lars Rhodin, responds to an open letter by Jonathan Jones of JLJ Maritime — ‘Ensuring fair leadership in hull insurance market’ — published in TradeWinds last month (8 August, Opinion page 10)
26 September 2014 0:00 GMT
Updated
26 September 2014 0:00 GMT