Facts
The programme was comprehsive with a number of interesting topics. Director of Quantum Shipping Services, Jean Richard, addressed New challenges for Shipping when the audience were presented with figures showing the fast growth in China and India. The audience were left with an open question - would China take over the New World Order?
Piracy was once again in focus and speakers representing the Norwegian Shipowners' Association, DnK and legal gave the latest updates from their relevant perspective.
Arthur Pilkington, P&I Director of the Norwegian Hull Club, was among the speakers on the first day when he held a talk about Wet Tows. In his presentation, Mr. Pilkington addressed a few challenges for insurers in Wet Tows, amongst which the legal, technical and underwriting issues. Two cases were used to illustrate areas that insurers, be they H&M, P&I or Cargo, should be putting more focus in order to protect their interests. Towcon is the most commonly used C/P in towage; what are the legal implications and how will they affect the various insurers' interests when this C/P is construed on the knock-for-knock principle?
Rights of recourse and the right to apply for liability limitation were discussed. In respect of the technical issues, Pilkington asked whether insurers should be more proactive or rely solely on warranty surveyors in the hope that they do a proper job. This led to the underwriting issues where he put forward a number of possible areas of improvement for insurers. For example the setting up a common data base or vetting system for the quality control of tug companies and warranty surveyors was flagged up. This would lead to Nordic insurers continuously updating and sharing information on such companies. Standardisation of certificates of approval in relation to wind force, sea state and weather forecasts, to name a few, was also raised and the use of a small group of towage experts to give guidance prior to and during the voyage.
Although there was no time for general discussion or question since the programme ran over the allocated time for the earlier speakers, comments afterwards indicated that Arthur Pilkington's talk about Wet Tows was well received. In fact his talk was referred a few times in the second day when Andrew Corton, cargo underwriter from the Travelers syndicate, gave his speech about Insurable risks, insurable losses. Issues on quality control and certificates of approval apply to wet-tows and dry-tows and certain insurers are already working on tightening the criteria.
Other highlights of the second day were: Crew -the human element, Future opportunities and challenges for Nordic Marine Insurers, Loss prevention for securing cargo for adverse weather and Insuring delays.