HISTORY, BACKGROUND AND STRUCTURE OF P&I CLUBS
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1 HISTORY, BACKGROUND AND STRUCTURE OF P&I CLUBS
2 INTRODUCTION Shipowners insurance requirements History of P&I insurance P&I clubs P&I departments and correspondents International Group of P&I Clubs Other insurance facilities 2
3 SHIPOWNERS INSURANCE REQUIREMENTS Hull and Machinery (H&M) Protecting and Indemnity (P&I) Freight, Demurrage & Defence (FD&D) War Risks Strike Insurance 3
4 SHIPOWNERS INSURANCE REQUIREMENTS P&I provides cover for shipowners third party liabilities Protection Term generally used to describe cover for risks arising from people, ships and others Indemnity Term generally used to describe cover for shipowners liabilities from the carriage of cargo 4
5 HISTORY OF P&I INSURANCE 5
6 HISTORY OF P&I INSURANCE 1000BC - Phoenicians accredited with rudimentary marine insurance practices Edward Lloyd opened first coffee house in London Act of Parliament restricted marine insurance to two companies until
7 HISTORY OF P&I INSURANCE SHIPS Hull policies did not cover damage to other vessel Other vessel collision liability - limited to 3/4 Running Down Clause (RDC) Remaining 1/4 would be picked up by Mutuals De Vaux Versus Salvador 7
8 HISTORY OF P&I INSURANCE PEOPLE Act of parliament Lord Cambell s Act 1846 Allowed relatives of people killed by wrongdoing of others to recover damages Crew and passengers carried by ships
9 HISTORY OF P&I INSURANCE First protecting club formed 9
10 HISTORY OF P&I INSURANCE North of England P&I Association established Newcastle Greece Hong Kong Singapore Japan 10
11 HISTORY OF P&I INSURANCE Global fleet of 4,000 ships 400 member groups Providing P&I insurance to 12% of the world s owned shipping tonnage 11
12 HISTORY OF P&I INSURANCE CARGO Common law Freedom of contract Few cargo claims Port C Westerhope incident 1870 Deviation Port B 12
13 HISTORY OF P&I INSURANCE Increase in overseas trade and changes in the Law Workmen's Compensation Act Factory Acts and Industrial Injuries Act Merchant Shipping Acts Hague Rules 13
14 HISTORY OF P&I INSURANCE Ships Cargo People 14
15 P&I CLUBS 15
16 P&I CLUBS An Association of Shipowners Providing third party liability insurance cover On a mutual basis (sharing of risks) Non-profit making 16 16
17 P&I CLUBS Owned by their shipowner members Controlled by their shipowner members Exist solely for the benefit of their members A service provider as well as providing insurance 17 17
18 P&I CLUBS Managed Clubs Thomas R. Miller manage UK P&I Club Mutually Owned Club North of England P&I Association 18 18
19 P&I CLUBS A Member may be a: Shipowner Ship manager Ship operator Charterer 19 19
20 P&I CLUBS P&I policy is a TIME policy: From Noon GMT on 20 February To Noon GMT on following 20 February 20 20
21 P&I DEPARTMENTS AND CORRESPONDENTS 21
22 P&I DEPARTMENTS AND CORRESPONDENTS 22
23 P&I DEPARTMENTS AND CORRESPONDENTS North of England Ship Owner Directors North Insurance Management Ltd P&I Claims Department Underwriting Department Loss Prevention & Survey Finance, Accounts, IT & Administration FD&D Department
24 P&I DEPARTMENTS AND CORRESPONDENTS North of England Ship Owner Directors North Insurance Management Ltd P&I Claims Department Underwriting Department Loss Prevention & Survey Finance, Accounts, IT & Administration FD&D Department P&I Correspondents
25 P&I DEPARTMENTS AND CORRESPONDENTS Correspondents Representatives - not agents When to call a correspondent? Clubs eyes and ears Report to claims handler Protect the shipowners position Commercial Correspondents *Legal Correspondents 25
26 P&I DEPARTMENTS AND CORRESPONDENTS Correspondents Immediate advice to Members and Masters Legal representation and advice Arrangement of surveys Advice on defence and legal aspect of claims Negotiation with local interests Keeping P&I Club fully informed Assisting with release of a vessel under arrest 26
27 INTERNATIONAL GROUP OF P&I CLUBS 27
28 INTERNATIONAL GROUP OF P&I CLUBS (IG) 13 Member Clubs Over 90% of world tonnage Collective insurance and reinsurance Represent view of shipowners Exchange information 28 28
29 INTERNATIONAL GROUP OF P&I CLUBS (IG) North of England American Gard (Gjensidig) Skuld (Gjensidig) Britannia Japan London Shipowners Mutual Standard Steamship Mutual Swedish Club UK Club West of England 29
30 INTERNATIONAL GROUP OF P&I CLUBS (IG) Limit of financial liability All claims (except for oil pollution) Approximately US $6,900 million for a single claim Oil Pollution US $1,000 million for a single claim Passenger claim US $2,000 million Passenger and crew claim US $3,000 million 30 30
31 INTERNATIONAL GROUP OF P&I CLUBS (IG) Standing Committees Bills of Lading Personal Injury Maritime Security Claims Co-Operation Pilotage Ad hoc Committees Asbestosis New York Produce Exchange Charterparty 31
32 OTHER INSURANCE FACILITIES 32
33 OTHER INSURANCE FACILITIES Clubs and facilities for Shipowners, or others, who do not require the extent of cover provided by International Group Clubs Clubs and facilities who may be prepared to take tonnage which the International Group will not accept 33 33
34 SUMMARY 34
35 SUMMARY Shipowners insurance requirements History of P&I insurance P&I clubs P&I departments and correspondents The International Group of P&I clubs Other insurance facilities 35
36 SUMMARY P&I Clubs are: Owned by their shipowner members Controlled by their shipowner members Exist solely for the benefit of their members Non-profit making A service provider as well as providing insurance 36
37 THANK YOU 37
38 OUTLINE OF RISKS COVERED
39 INTRODUCTION Scope of P&I Cover Risks not covered Underlying principles of marine insurance
40 SCOPE OF COVER 4 0
41 RISKS COVERED 1. Seamen 2. Supernumeraries 3. Passengers 4. Third Parties 5. Stowaways 6. Diversion Expenses 7. Life Salvage 8. Persons in Distress 9. Quarantine 10. Collisions 11. Non-contact Damage 12. Damage to Property 13. Pollution 14. Wreck Removal 15. Towage 16. Contracts, Indemnities & Guarantees 17. Cargo 18. General Average 19. Fines 20. Legal Costs, Sue & Labour 21. Risks Incidental to Shipowning 22. Special Cover (s/c) 23. s/c - Salvors 24. s/c - Containers 25. s/c - Time Charterers.
42 RISKS COVERED People Ships Cargo Others
43 PEOPLE Total cost of claims Value of Claims to % 21.5% People 38.3% 37.6% People Cargo Ships Others 22%
44 PEOPLE Seamen Supernumeraries Passengers Third Parties
45 PEOPLE Pay damages or compensation for death, personal injury or illness Statutory Contractual Duty of Care Crew Supernumeraries Passengers Third Party Depends Some jurisdictions? Possibly Merchant Shipping Act Depends Some jurisdiction? Contract of employment and crew agreement x Possibly if stowaway put to work? Passenger ticket x
46 PEOPLE People Claims Value to 2008 Total cost of people claims 13.5% Crew 81% 0.8% 0.8% 4.0% 30.7% 50.3% Crew - injury Crew - illness Crew - other Supernumerary Passenger Third party 46
47 STOWAWAYS
48 PERSONS IN DISTRESS
49 DIVERSION EXPENSES Expenses for: Landing injured or sick persons Assisting persons in distress Landing stowaways or refugees
50 SHIPS Total cost of claims Value of Claims to % 21.5% Ships 38.3% 37.6% People Cargo Ships Others 38% 50
51 COLLISIONS
52 COLLISIONS Clause 8 Institute time clauses hulls 1/10/83 3/4 Collision Liability - Running down clause (RDC) 3/4 Hull and machinery 1/4 P&I Damage to the OTHER ship (includes property/cargo on OTHER ship) Delay or loss of use of the OTHER ship General average or salvage of the OTHER ship
53 COLLISIONS Clause 8 Institute time clauses hulls 1/10/83 3/4 Hull and machinery 4/4 P&I EXCLUSIONS 3/4 Collision Liability - Running down clause (RDC) Wreck removal Property not on the OTHER ship Cargo on own ship Loss of life, personal injury or illness Pollution
54 NON-CONTACT DAMAGE TO SHIPS
55 DAMAGE TO PROPERTY
56 POLLUTION
57 WRECK REMOVAL
58 DURING TOWAGE
59 CARGO Total cost of claims Value of Claims to % 21.5% Cargo 38.3% 37.6% People Cargo Ships Others 38% 59
60 CARGO Loss, shortage or damage arising from any breach of the contract of carriage Hague Visby Rules care for the cargo Load, Handle Stow, Carry Keep, care for Discharge Due diligence to make the ship seaworthy
61 CARGO Additional costs Discharging or disposing Damaged cargo Worthless cargo
62 OTHERS Total cost of claims Value of Claims to % 21.5% Others 3% 38.3% 37.6% People Cargo Ships Others 62
63 GENERAL AVERAGE General Average Salvage Who contributes? Bunkers Ship H&M Value of ship Cargo Cannot pay! Bad debt Will not pay! Unseaworthy
64 FINES Manager s approval: Short or overlanded cargo Smuggling Immigration laws Accidental pollution Director s discretion: Others May compensate for confiscation of ship
65 LEGAL COSTS
66 RISKS INCIDENTAL TO SHIPOWNING The Omnibus Rule??
67 SPECIAL COVER FOR TIME CHARTERERS P&I - Cargo Hull Damage Bunkers Freight or Hire
68 DEDUCTIBLES The first part of each claim paid by the Member Effect on premium Claims below deductible See Rule 21
69 DEDUCTIBLES Third party claim US $100,000 Crew Claim paid by P&I insurer US $85,000 Cargo Claim paid by P&I insurer US $75,000 Deductible paid by Member US $ 15,000 Deductible paid by Member US $ 25,000
70 RISKS NOT COVERED
71 PRIMARY EXCLUSIONS Risks covered under Hull Policy War Risks Radioactive Materials Imprudent or Hazardous Operations
72 RISKS SPECIFICALLY EXCLUDED Damage to entered ship Equipment Repairs to entered ship Freight Salvage
73 RISKS SPECIFICALLY EXCLUDED Charterparties Bad Debts Demurrage Towage Members other interests
74 SPECIALIST OPERATIONS EXCLUSIONS Blasting pile-driving well stimulation dredging cable or pipe-laying construction installation or maintenance work core sampling depositing of spoil professional oil spill response
75 UNDERLYING PRINCIPLES OF MARINE INSURANCE
76 INTRODUCTION Marine Insurance Act Seaworthiness Payment first by Member Provision of security
77 THE MARINE INSURANCE ACT 1906 All contracts of insurance made by the Association are subject to the Marine Insurance Act, P&I Rule 6
78 THE MARINE INSURANCE ACT 1906 MSA Section 39(5) - Warranties of Seaworthiness In a time policy: There is no implied warranty that the ship shall be seaworthy at any stage of the adventure. If the ship is sent to sea in an unseaworthy state, with the knowledge of the assured, the insurer is not liable for any loss attributable to unseaworthiness See Rule 26(4)
79 PAYMENT FIRST BY THE MEMBER Condition precedent No direct action P&I Rule 20
80 THIRD PARTIES RIGHTS AGAINST INSURERS Intended to give a right of direct action against insurer where insured becomes bankrupt or insolvent Third party only takes same rights as insured No rights for persons not party to the contract (Contracts (Rights of Third Parties) Act 1999) Club s Rules specify Pay to be Paid Therefore no direct action
81 SECURITY
82 SECURITY Discretionary Club Letters of Undertaking (CLU) Bank Guarantees No cash deposits (unless Directors authorise) Rule 34(5) Bail
83 SUMMARY Scope of P&I Cover People Cargo Ships Others Risks not covered Underlying principles of marine insurance Security
84 ANY QUESTIONS?
85 HULL AND MACHINERY INSURANCE
86 INTRODUCTION Standard clauses Insured perils Partial losses Total losses Owner's obligations 86
87 STANDARD CLAUSES 87
88 STANDARD CLAUSES Markets: London Scandinavia Europe USA Others 88
89 STANDARD CLAUSES LONDON MARKET Institute of London Underwriters (ILU) Institute Time Clauses (ITC) - Hulls International Underwriting Association of London (IUA) International Hull Clauses (IHC)
90 INSURED PERILS 90
91 INSURED PERILS Traditional perils Inchmaree perils 91
92 TRADITIONAL PERILS Loss or damage caused by: Perils of the seas rivers lakes or other navigable waters Fire, explosion Violent theft by persons from outside the Vessel Jettison Piracy ITC Hulls Clause October
93 TRADITIONAL PERILS Loss or damage caused by: Breakdown of or accident to nuclear installation or reactors Contact with aircraft or similar objects, or objects falling therefrom, land conveyance, dock or harbour equipment or installation Earthquake volcanic eruption or lightning ITC Hulls Clause October
94 INCHMAREE PERILS Loss or damage caused by: Accidents in loading discharging or shifting cargo or fuel Bursting of boilers, breakage of shafts or any latent defects in the machinery or hull Negligence of Master Officers Crew or Pilots ITC Hulls Clause October
95 INCHMAREE PERILS Loss or damage caused by: Negligence of repairers or charterers, provided such repairers are not an Assured hereunder Barratry of Master, Officers, or Crew ITC Hulls Clause
96 PARTIAL LOSS 96
97 PARTIAL LOSS Partial loss (particular average) Loss other than a total loss Damage caused by a peril 97
98 PARTICULAR AVERAGE Cover includes reasonable costs for: Repair Removing ship to place of repair Cover does not include: Wear and tear Ordinary use 98
99 OTHER PARTIAL LOSSES 99
100 GENERAL AVERAGE There is a general average act when, and only when, an extraordinary sacrifice or expenditure is intentionally and reasonably made or incurred for the common safety for the purpose of preserving from peril the property involved in a common maritime adventure. York-Antwerp Rules
101 GENERAL AVERAGE Contributing parties: The ship H&M underwriters The cargo Cargo underwriters The bunkers Time charterers 10 1
102 COLLISION LIABILITIES Third party liabilities covered under standard collision clause (RDC): ¾ damage to other ship ¾ damage to cargo and property on other ship ¾ detention of other ship ¾ general average and salvage of other ship 10 2
103 COLLISION LIABILITIES Third party liabilities not covered under standard collision (RDC) clause: Loss of life or personal injury Pollution Wreck removal 10 3
104 TOTAL LOSS 10 4
105 TOTAL LOSS Shipowner permanently deprived of use of ship Actual total loss or constructive total loss 10 5
106 ACTUAL TOTAL LOSS Ship is lost and cannot be salvaged 10 6
107 CONSTRUCTIVE TOTAL LOSS Recovery and repair would exceed the ships insured value Recovery is unlikely 10 7
108 OWNERS OBLIGATIONS 10 8
109 DUE DILIGENCE Proviso to clauses describing perils: Loss or damage has not resulted from want of due diligence by the assured, owners or managers ITC Hulls dated 1 October 1983 IHC - dated 1 November
110 DUE DILIGENCE Proviso to clauses describing perils: Loss or damage has not resulted from want of due diligence by the assured, owners or managers or superintendents or any of their onshore management ITC Hulls dated 1 November
111 SUMMARY 11 1
112 SUMMARY Standard clauses Insured perils Partial losses Total losses Owner's obligations 11 2
113 SUMMARY Standard clauses Total and partial losses Insured perils Owner s obligations 11 3
114 THANK YOU 11 4
115
116 INTRODUCTION Introduction Underwriter s role Premiums Loss ratio Reinsurance
117 WHAT WE DO? P&I FD&D Extended and ancillary covers Offshore oil and gas exploration and production cover War Newbuilding cover
118 GT (Millions) TONNAGE DEVELOPMENT Year Ending 20 February
119 GT (Millions) IG CLUB TONNAGE COMPARISON AT 20 FEBRUARY
120 THE UNDERWRITER S ROLE Premium Levels Cost of Claims Cost of Reinsurance Cost of Running the Club Reserves Terms of Cover Rules International Group Pooling Agreement Reinsurance Terms
121 THE UNDERWRITER S ROLE DAY TO DAY New Business New Owners KYC New Members IGA Business Existing Business Addition to Fleet Renewal 20 February
122 THE UNDERWRITER S ROLE QUOTING Vessel details Age, GT, Type, Flag, Class (IACS) Member details Owner, Operator, Manager, Charterer Trade and crew Compatibility Trade references Financial standing Condition of vessel Ship type / Member Information Claims experience Club wide record Member specific record Reinsurance costs Administration costs
123 PREMIUM DEFINITIONS RULE 2 Premium: Amount that can be quantified prior to entry MUTUAL PREMIUM FIXED PREMIUM
124 PREMIUM DEFINITIONS RULE 2 Call: Amount that cannot be quantified, but which member may become liable to pay as mutual member ADDITIONAL CALL OVERSPILL CALL RELEASE CALL
125 PREMIUM STRUCTURE Traditional Structure Additional Call 4th Instalment 01 Dec Mutual Premium 3rd Instalment 2nd Instalment 01 Sep 01 Jun 1st Instalment 01 Apr
126 LOSS RATIO Loss Ratio = Level of Claims x 100% Premium Fleet Example: Claims = US$300,000 Premium = US$500,000 Loss Ratio = 60%
127 LOSS RATIO
128 P&I LOSS RATIO POLICY YEAR NET PREMIUM IG RI COSTS¹ POOL COSTS² ABATEMEN T COSTS³ NET NET PREMIUM ⁴ CLAIMS PAID CLAIMS OUTSTANDIN G CLAIMS TOTAL CLAIMS NET OF ABATEMENT⁵ LOSS RATIO % PRO RATA GT View Claims USD USD USD USD USD USD USD USD USD , ,811 56,432 85, ,297 10, ,636 10, , ,335, , , , , ,072 16, , , , ,460, ,064 86, , ,872 31,472 10,000 41,472 41, , ,289, ,651 99,851 89, ,800 6, ,670 6, , ,044, ,829 41, , , ,002 27,002 27, ,048 Total 9,101,145 2,152, ,115 1,131,443 5,155, ,922 53, , , , , , , , ,000 35,000 35, ,046
129 LOSS RATIO POLICY YEAR NET PREMIUM IG RI COSTS¹ POOL COSTS² ABATEMENT COSTS³ NET NET PREMIUM⁴ CLAIMS PAID CLAIMS OUTSTANDING CLAIMS TOTAL CLAIMS NET OF ABATEMENT⁵ LOSS RATIO % PRO RATA GT View Claims USD USD USD USD USD USD USD USD USD ,593 8,157 3,473 3,107 57,856 30, ,660 30, , ,493 40,220 8,824 49, , ,228 9,622,987 9,789,215 3,002, ,592 Total 459,086 48,377 12,297 52, , ,888 9,622,987 9,819,875 3,033, ,336 36,411 25,307 35, , ,501 46,501 46, ,591
130 P&I LOSS RATIO REPORT POLICY YEAR NET PREMIUM IG RI COSTS¹ POOL COSTS² ABATEMENT COSTS³ NET NET PREMIUM⁴ CLAIMS PAID CLAIMS OUTSTANDING CLAIMS TOTAL CLAIMS NET OF ABATEMENT⁵ LOSS RATIO % PRO RATA GT View Claims USD USD USD USD USD USD USD USD USD ,123 79,951 65,704 67, , , , , , , ,310 92,710 38, , , , , , , , ,079,882 96,974 55,832 49, ,128 50, , , , , ,221, ,167 30, , ,992 1,472, ,175 2,299,322 2,299, ,886 Total 4,952, , , ,161 3,684,005 3,480,262 1,626,716 5,106,978 5,106, ,272,026 98,034 83, , ,608 42,447 2,079,379 2,121,826 2,121, ,916
131
132 REINSURANCE Re-insurance is passing risk to another insurer Pooling with other Clubs Market Reinsurance Purpose of Reinsurance Avoids excessive fluctuation between years and provides stability Provides higher limits of cover Cost effective and efficient use of funds
133 IG REINSURANCE CONTRACT 90 95% world s ship owners enter ships in an IG Club 13 International Group Clubs Levels of cover provided are vast but not defined Estimated to be approx US$7 Billion All 13 IG Clubs pool claims All 13 buy re-insurance RI policy - largest marine policy in the world Pooling agreement & International Group Agreement foundation of P&I Sharing of risk then some control of rating required TradeWinds Cartel - but most efficient system and proven
134 IG REINSURANCE HYDRA Independent reinsurance vehicle/segregated cell company Based in Bermuda Reinsures each IG Club s liability to the pool within the Lower and Upper Pools - US$50 xs $30 million BUT Individual Claiming Club Retentions in the Upper Pools Reinsures 30% - 60% of each claim within the First General Excess Layer - US$80 to US$580 million
135 IG REINSURANCE STRUCTURE
136 IG REINSURANCE COST USD Category 2016/ /18 Difference % % Difference Dry Cargo Dirty Tanker Other Tanker Passenger
137 IG REINSURANCE CLUB RETENTION Claims up to US$10 million (currently) Maintains underwriting discipline Cost Effective Retention Reinsurance Excess of Loss Stop Loss
138 IG REINSURANCE LOWER POOL Claims from US$10 million to US$30 million Each Club contributes in relation to: Entered tonnage Total mutual premiums Pool claims record Claims from US$30 US$45 million Reinsured by Hydra
139 IG REINSURANCE UPPER POOL Reinsured by Hydra Upper Pool Claims from US$45m to US$80m 7.5% Back to individual club responsible for claim
140 IG REINSURANCE HYDRA LAYER Reinsured by Hydra Claims from US$80m to US$100m
141 IG REINSURANCE EXCESS OF LOSS REINSURANCE The General Excess of Loss Contract Multi-Year Fixed Contract First GXL Layer (US$100m to US$600m) Second GXL Layer (US$600m to US$1.1b) Third GXL Layer (US$1.1b to US$2.1b) Lloyds and world markets Costs apportioned on record and exposure
142 IG REINSURANCE OVERSPILL PROTECTION Further US$1b of protection (US$2.1b to US$3.1b) above Hydra pool/gxl participation Upper limit not fixed precisely Currently approximately US$7 billion
143 IG REINSURANCE EXCESS OF OVERSPILL Back to individual Clubs Upper limit not fixed precisely Currently approximately US$7 billion
144 IG REINSURANCE OIL POLLUTION The pool and GXL layer and participation structures for the separate Oil Pollution cover mirrors the main (P&I) placement up to the Oil Pollution cover limit (US $1 billion).
145
146 SUMMARY Introduction Underwriter s Role Premiums Loss Ratio Reinsurance
147 THANK YOU
148 LOSS PREVENTION & SURVEY
149 INTRODUCTION North of England s loss prevention strategy Provision of information General Targeted Bespoke Risk based assessment Condition survey 14 9
150 PUBLICATIONS
151 25 YEARS AND COUNTING In the 25 years since the Loss Prevention Department was founded, we have produced numerous publications on a wide range of topics. Publications.pdf
152 INDUSTRY NEWS Up-to-date information about topical issues is provided by the Industry News service.
153 MTI The Maritime Threats and Incidents Picture, brought to you by Gray Page in partnership with North, globally monitors maritime incidents, casualties and threats to shipping
154 INFORMATION Bespoke loss prevention Enquiries 2,500+ in 2016 Training for Members staff at North Seminars at Members offices Residential courses UK Singapore Dubai 15 4
155 RISK BASED APPROACH Risk and claims avoidance Proactive approach to identify and reduce exposure to risk factors Internal benchmark and review evaluates exposure to risk External loss prevention review works with Members particularly exposed to risk factors PSC Performance for 2016 Policy Year Number of PSC inspections 7859 Number of PSC detentions 95 Percentage of PSC detentions 1.21 Average number of deficiencies 1.32 RightShip Star Ratings on 01 June 2016 Number of vessels above 3 star rating 2,601 Number of vessels with 2 star rating 362 Number of vessels with 1 star rating 19 Average vessel star rating
156 CONDITION SURVEYS In April 2002 the OECD (Organisation for Economic Cooperation and Development) released a policy statement on action needed to combat sub-standard ships. The OECD statement required the marine insurance industry to cooperate and to be in a position to identify deficiencies on insured ships that rendered those ships unsafe. As a result the IG P&I clubs set up a ship condition survey programme. 156
157 CONDITION SURVEYS Responsibility for the condition of a ship? Owners and managers Responsibility for monitoring condition? Flag State Recognised Organisation Port State Classification society 1
158 CONDITION SURVEYS Role of the P&I Club Third party liability insurer Assess the risk posed by the ships condition for insurance purposes 1
159 CONDITION SURVEYS Routine Entry surveys 12 year old or more on entry HFO tankers Non-routine Defects surveys PSC surveys following detention Follow-up surveys 1
160 CONDITION SURVEYS 16 0
161 CONDITION SURVEYS 16 1
162 CONDITION SURVEYS 16 2
163 CONDITION SURVEYS 16 3
164 CONDITION SURVEYS 16 4
165 SUMMARY North of England s loss prevention strategy Provision of information General Targeted Bespoke Risk based assessment Condition survey 16 5
166 THANK YOU
167 OUTLINE OF FD&D INSURANCE
168 INTRODUCTION Introduction What is FD&D Cover? Features of FD&D Scope of cover Limitations to cover North of England FD&D Department
169 INTRODUCTION WHAT IS FD&D COVER?
170 INTRODUCTION - WHAT IS FD&D COVER? A form of optional mutual insurance for legal costs in relation to enforcing or defending certain types of shipowning risks
171 INTRODUCTION - WHAT IS FD&D COVER? Additional Class of optional insurance Legal costs insurance To cover legal costs outside P&I and H&M Does NOT cover substantive liabilities
172 FEATURES OF FD&D
173 FEATURES The business of this class is the enforcement of all proper claims and the defence of all claims improperly brought
174 FEATURES Discretionary cover: Prudent uninsured Reviewed throughout claim Members Board have absolute discretion with regard to support
175 FEATURES Double insurance: Rule 23 No cover for costs / expenses recoverable under other insurances Claim not covered by P&I or H&M P&I and H&M liabilities not covered
176 FEATURES Security: For claims For costs
177 FEATURES Duty to notify the Club: Time limit for notification of claims 3 months after Member becomes aware of the existence of claim Rule 25(4) No legal steps to be taken / lawyers appointed without approval Rule 26(2)
178 FEATURES Deductible 2016/ % deductible Minimum deductible $10,000 Maximum deductible $150,000 No costs if no external parties appointed
179 SCOPE OF COVER
180 SCOPE OF COVER Types of disputes - May 2016-May 2017 DISPUTES WITH OTHERS 3% DISPUTES WITH SUPPLIERS 1% OTHERS 2% C/P DISPUTES 94%
181 SCOPE OF COVER HIRE/FREIGHT/DEADFREIGHT Lawful deduction? No right of set off against freight Off-hire? Withdrawal for non-payment of hire Lien for non-payment of hire/freight
182 SCOPE OF COVER UNSAFE PORT CASES where she may safely lie,..
183 SCOPE OF COVER UNSAFE PORT CASES,always afloat.
184 SCOPE OF COVER BUNKER DISPUTES Bunker quality/quantity Quantities on delivery/redelivery
185 SCOPE OF COVER STEVEDORE DAMAGE Stevedore damage Liaise with H&M underwriters
186 SCOPE OF COVER NEWBUILD/MOA Newbuilding disputes Sale and purchase disputes (MOA) Review of contracts Limit on cover US$250,000
187 SCOPE OF COVER OTHER Disputes with underwriters (H&M/war risk/loss of hire) Disputes with suppliers (bunker suppliers/port agents) Disputes with mortgagees / managers / operators Note: No cover for disputes between Insured Parties Rule 9(3)(G) Bill of lading disputes Note: Not cargo loss or damage
188 SCOPE OF COVER Check before fixing International Maritime Bureau (IMB) Baltic and International Maritime Council (BIMCO) Internal Enquiries
189 LIMITATIONS TO COVER
190 LIMITATIONS ON COVER Classification society requirements Statutory requirements Rule 22
191 NORTH OF ENGLAND FD&D DEPARTMENT
192 FD&D DEPARTMENT As of 20 February 2017 About 3,300 Owned and Chartered vessels About 200 Members 122 million GT
193 FD&D DEPARTMENT In-house team of 34 dedicated lawyers. Specialists in handling disputes falling within the scope of FD&D cover. Majority of North s in-house team are English solicitors or barristers. A large number of FD&D Class disputes arise under charterparties or other contracts containing London arbitration clauses. Routinely handle London arbitrations in-house
194 FD&D DEPARTMENT UK Office 24 lawyers including a US Attorney Singapore Office 6 lawyers including 3 Singaporean solicitors and 2 Hong Kong solicitors Greek Office: 4 lawyers
195 FD&D DEPARTMENT FD&D Guide Online FD&D Class
196 SUMMARY Introduction What is FD&D Cover? Features of FD&D Scope of cover Limitations to cover North of England FD&D Department
197 THANK YOU
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