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John's Newfoundland St. Although the Club does not appoint agents, the List of Correspondents includes the names of companies in all major ports of the world who are available to assist masters, owners and the Club in dealing with any claims or problems with which the Club might be concerned. In London, staff are available in their offices on weekdays from Office hours in other Miller offices match local conditions.
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This is the first time that the English Court has been called upon to consider this issue which it did in some detail. The shipping market continues to experience a prolonged period of downturn, especially in the offshore sector. We have seen owners and operators often being compelled to lay up tonnage.
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Closure of the policy year without additional call 26 May, At their meeting of the 21 May the Board considered the open policy years and in particular the policy year, which is now three years old. Search for:. Find correspondents Find staff. Sign up to our latest news alerts Enter your contact details to receive our news and insights.Thomas Miller is an international provider of market leading insurance services.
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Classification Societies - A full listing
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This definition was made effective from 20th Februaryand reads as follows; "Specialist operations shall include, but not be limited to dredging, blasting, pile driving, well stimulation, cable or pipe laying, construction, installation or maintenance work, core sampling, depositing of spoil, professional oil spill response and professional oil spill response training, but excluding fire fighting".
Rapid advances in technology and the ever changing demands on specialist ships made it impossible to compile an exhaustive list of specialist operations. This open ended definition has lead to criticism, since it may leave other non-listed operations open to ambiguities. Several types of specialist operations were discussed when the list was compiled. The use of streamers was therefore considered covered on an equal basis to the use of a trawl or fishing net by fishing boats.
An example of a recent enterprise which would qualify as a specialist operation, but which is not currently listed, is the on-going conversion of a former semi-submersible drilling platform into a rocket launching platform for satellites.
Specialist vessels have always been treated separately from ordinary merchant ships and passenger vessels. The interpretation of what constitutes "specialist operations" has, however, been the subject of evolution. At the beginning of the seventies when the offshore vessels was brought on the agenda, much of the focus was given to the type and superstructure of the vessels, although the operations undertaken by the vessels were also considered.
The reason was that the barges did not have motive power and looked more like drilling units than ships. In November it was agreed that from then on the distinction should be drawn on the basis of liabilities rather than types of crafts, since the liabilities born by them were precisely the same.
For example, it was noted that some Clubs considered well stimulation vessels as drilling vessels, whilst others did not. In it was agreed that these vessels should more correctly be referred to as "crafts engaged in specialist operations".
Construction vessels used in the offshore industry were however,still considered and treated almost as strictly as drilling vessels, production vessels and accommodation units used as an integrated part of such exploration or production operations.
In a decision was made with respect to vessels which carried out construction operations. Since the application of the exclusion was considered ambiguous, it was agreed that construction vessels should only be considered in the exclusion dealing with specialist operations, and not in the wider exclusion dealing with drilling vessels, production units and accommodation units.
The effect of the Chicago pile driving incident In a pile driving vessel was engaged in pile driving certain sections of the Chicago waterways. One of the piles accidentally punched through the bottom of the canal and penetrated the underground transport system resulting in severe flooding.
The exclusion for specialist operations, Rule 59 Claims brought by any party in respect of the specialist operations The exclusion in Rule During this process it was discussed whether the exclusion for specialist operations should refer to "incidents arising out of the use of specialist vessels" or whether it should refer to "incidents arising during the course of performing specialist operations". It was agreed that the exclusion should refer to the operations themselves.
This principle would provide a clearer test, and it would ensure that the distinction was drawn on the basis of the operations themselves, rather than the types of vessels.viastersirat.pw - Γιάννης Πλατσιδάκης - Anangel Maritime Services Inc.
In order for the claim to fall within the exclusion it should be demonstrated that the claim would not have arisen but for the specialist nature of the operations. These two distinctions are essential to the overall understanding of the exclusion, and how it is intended to work. Example 1 The exclusion would apply to a supply ship fitted out with a remote operated underwater vehicle r. Liabilities arising out of the use of the r. Example 2 The exclusion would not apply to a cable or pipe laying vessel whilst navigating to or from the offshore site, since the sole navigating of the vessel would not be considered a specialist operation.
This means that the exclusion would neither apply during navigation within the offshore site or whilst the vessel is on stand-by at the site, provided the specialist operations are not in progress. Even in circumstances where the specialist operations have commenced, the exclusion may not be invoked in the event of an incident, as long as the incident did not arise out of the specialist nature of the operations.
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For example, if the vessel is hit by a black out resulting in the loss of steering whilst installing a cable, and subsequently drifts and collide with an installation in the vicinity, the occurrence would not be considered an incident that arose out of the specialist nature of the operations, and the exclusion would not apply. The claim must be in respect of the specialist nature of the operations to be considered an excluded loss for the purpose of Rule Failure to perform and the fitness for purpose The exclusion in Rule Such liabilities whilst incurred during the course of performing specialist operations, may not manifest themselves until after the completion of the operations.
The exclusion will therefore apply, for example, to a claim in respect of the rupture of a pipe which occurs after completion of pipe laying as a result of defective welding or the pipe being laid out of alignment.Given the volume of maritime disputes, legal costs can quickly become significant for shipowners.
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Specialist operations - Limitation on P&I cover
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Google will use this information for the purpose of evaluating your use of the website, compiling reports on website activity, and providing other services relating to website activity and internet usage for Marsh and its affiliates.A working group has been set up for the purposes of reviewing associated claims with COVID and, at its heart, one rule should and fundamentally will apply across the industry. Crucially, however, Clubs and Owners should not lose sight of the fact that, as mutual insurers, the members are the stakeholders to whom Club management are accountable.
Indeed the very nature of the system is geared to be as inclusive as possible, with discretion pervasive and the Omnibus Rule a cornerstone of this. We do not expect a deluge of such claims but, in short, the shipping community should be reassured of the support that the International Group have and can provide to them as we all navigate our way through the numerous challenges being faced by the industry.
We reflect on a number of these below:. The finances of individual Clubs within the 13 will be differently impacted by COVID related market falls and any investment and exchange losses in Most Clubs will have enjoyed good investment returns at the end ofbut more important will be the extent to which they de-risked their investment portfolios during that year.
This de-risking may have been because of expectations of the impact of COVID, or simply because investment managers felt that equities were overpriced and overdue a fall. Most likely it was the latter, but for example Shipowners Club enjoyed a good investment return in the year to 31 December whilst reducing its equity holdings from It will be interesting to see the market wide experience later in the year.
These challenges also come at a time of increased operating pressures across the board and it is notable the recent announcement from Standard that they will be moving the management in house, and away from Charles Taylor. Equally during the investment recovery in the subsequent 2 financial years there were some Clubs that missed the opportunity to capitalise on the bounce back by keeping lower levels of equities for longer.
But it is not necessarily all bad news on the financial front. For many years now, the Clubs have been encouraged to reduce operating costs, but the financial statements really do not show much success in this regard. But here is an opportunity, forced upon them by a major pandemic, to address this matter across the board.
We are can envisage meeting costs and allied travel and entertainment budgets will fall dramatically in the new era of Zoom and Teams, including shipowner board meeting costs. This is not an inconsiderable sum, although it is difficult to evaluate how much that sum is, due to a lot of the detail being buried in some cases! This aspect of Club life will no doubt come under review for the longer term future as individuals begin to wonder how much they really need to fly to the Far East, for example, as opposed to arranging a conference call.
Working from home this year may result in additional infrastructural IT costs, but will it make the Clubs consider home working as being the norm rather than the exception? Do they really need expensive central London office space for all staff, or can they be more efficient with smaller hot desking type office space, with most staff working predominantly from home? Unfortunately, given the very nature of long term leases on premises, the benefits of this change may not be immediately available.
COVID has brought with it a need for a new way of working, where social distancing is the primary driver.
Will it go back to how it was just 12 months ago, or will we see permanent changes. Whilst the Club provisions in respect of lay ups and the laid up Rules continue as usual, we have negotiated reduced exposure rebates for some Owners where the trading environment elicits reduced navigational or cargo risks for a prolonged period of time. Such negotiations are, of course, on a case by case basis and governed by the individual facts and members circumstances, but we would encourage owners to explore this option.
As with any downturn in trade, whatever the reason, a reduction in shipping activity, both in terms of numbers of vessels and speed of navigation, will have impacts on both the premium levels and the claims levels.
Lay up returns, premium returns negotiated for reduced trading noted above and a knock on reduction in chartering activity will all lead to declining premium levels for the Clubs exposed to these factors. Vessels will also be put to different uses — for example, in an oil market that is in contango, tankers have been used as floating storage units in fixed positions, not actually moving. So, overall premiums should fall, but so does the related risk, and hence in some cases, routine claims, eg cargo or crew claims.
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But also we should see less navigational errors leading to big collision and FFO claims. Whilst reduced levels of trading may positively impact the loss ratio, its impact on the combined ratio may not be so good. The combined ratio includes overhead costs, which may not fall proportionately with premium. With falling premium there is less base against which to absorb the overhead costs, so it is conceivable that loss ratios could fall but combined ratios stay the same or even rise.
The year ratios will need close examination this time next year as they will feature a unique set of drivers. All Clubs will have some direct exposure to the passenger vessel industry in some form or another, whether small day trip vessels, island hopping boats or the largest of cruise ships. Whilst an increase in claims has been noted for the initial period of the COVID outbreak, the removal of passengers and suspension of operations has also meant that the subsequent exposure to a Club is significantly reduced.
Whilst passenger numbers and exposures have reduced, many crew remain on board with repatriation proving extremely difficult. There are also mental health ramifications to consider and possible claims in respect of these. This will go some way to cushion the impact on their Clubs and, from talking to Clubs exposed to the sector, we understand that, for some, the cruise ship portfolios have historically been net contributors to the Club. Shipowners Club has