Table of Contents. Introduction 3. Today 3. Our Expertise 4. Broking Teams 4. Claims Team 4. Timeline 4. Memberships and Accreditations 5

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1 Company Profile 1

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3 Table of Contents Introduction 3 Today 3 Our Expertise 4 Broking Teams 4 Claims Team 4 Timeline 4 Memberships and Accreditations 5 FP Reinsurance Brokers Ltd (FP Re) 5 Partnerships 5 Organisation 6 Active Classes of Business 8 Shipping 8 Liabilities 10 Trade 11 Office Locations 12 1

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5 Introduction FP Marine Risks, a specialist marine insurance broker, has provided expertise across all classes of marine since our formation in Our business portfolio extends across marine hull, cargo and liability. We provide risk solutions to a broad range of clients in the shipping, trading and general maritime communities. We are headquartered in Hong Kong and our principal markets are both direct insurance and reinsurance in the Asia Pacific, the Middle East and Europe. Today In 2013, FP Marine Risks joined the Hyperion Insurance Group, one of the world s leading insurance and reinsurance intermediary organisations. As a member of the Hyperion Insurance Group, FP Marine Risks is a key partner to the broking and underwriting networks of Howden Broking Group, DuAL International and RKH Specialty. Hyperion is the world s largest employee-owned insurance group with more than 3,500 people in 37 countries. As an international insurance intermediary group, Hyperion has insurance broking and underwriting agency networks across the globe. Howden is a multiple award-winning, independent employee-owned insurance broker, combining deep sector expertise with the scale of a global group. DuAL is the largest underwriting agency in the world. It provides specialist insurance solutions by connecting capacity providers to new geographic markets and segments and brokers with new insurance markets. RKH Specialty is a leading independent specialty lines broker, creating unique risk solutions, programmes and facilities across a wide range of industries and risk classes, placing complex risks for some of the world s largest companies. In 2017 FP Marine Risks joined the RKH Specialty family as the Asian Marine specialist. Company Profile 3

6 Our Expertise FP Marine Risks is structured to deliver the most comprehensive service to every client, wherever they may be located. We have a highly focused team of marine insurance professionals drawn from the insurance, shipping, legal and financial communities operating from offices in Hong Kong, Beijing and Taipei and through our partner offices in Shanghai. By working together, we combine our knowledge and expertise as a shared resource, enabling our clients to have full access to one of the most experienced collections of marine brokers, claims specialists and support staff available, with unparalleled access to insurance markets worldwide. Broking Teams Our broking teams consist of highly experienced professionals with backgrounds in underwriting, insurance broking, shipping, financial services and maritime law which are organized by class of business. All of the broking teams communicate and collaborate across the offices to ensure the best outcomes for our clients. Claims Team Our international claims team handles all types of losses, both straightforward and complex. Because we understand that speed of response is paramount, with the initial stages of a claim often proving critical, we provide 24 hour claims contact numbers to our clients. Timeline Company established FP Marine Risks receives as Fairlead Pacific FSA accreditation Insurance Consultants London office opens FP Marine Risks opens its first office in Australia 2002 New company name adopted to emphasise specialist marine nature FP Marine Risks Limited 2003 FP Marine Risks receives provisional accreditation from Lloyd s of London 2005 Taipei office opens 2006 FP Marine Risks becomes first Asianbased insurance broker to receive full accreditation from Lloyd s of London 4 Company Profile

7 Memberships and Accreditations FP Marine Risks is a Lloyd s broker, the first Asian insurance broker to receive such an accreditation. FP Marine Risks is a full member of the Hong Kong Confederation of Insurance Brokers (CIB), which is a prerequisite to being allowed to trade as an insurance broker in Hong Kong. FP Marine Risks is also regulated by the China Insurance Regulatory Commission and the Ministry of Finance in Taiwan. FP Reinsurance Brokers Ltd (FP Re) FP Marine Risks sister company, FP Re, was established in July With offices in Hong Kong and Taipei, the company specialises in treaty reinsurance broking, offering expertise across marine and non-marine programmes Beijing office opens 2009 FP Marine Risks is granted an Australian Financial Services Licence 2012 FP Marine Risks invests into HY Marine Risks 2014 FP Marine Risks acquires Risk Exchange Limited 2008 Sydney office opens 2010 FP Marine Risks acquires EDI Cargo Cover in Queensland 2013 Hyperion invests in FP Group 2015 London office combines with Hyperion wholesale operation RK Harrison 5

8 Organisation Management Team Mark Johnson Group Chief Executive Mark joined FP Marine Risks as CEO in March He has worked in London, Hong Kong, Canada and Thailand in senior management positions for both brokers and insurers before returning to Hong Kong for this role. With more than 30 years experience in the insurance industry he has the knowledge and expertise to handle a wide variety of commercial risks that FP Marine Risks clients face. Richard Walker Executive Director Richard joined FP Marine Risks after the company he founded in 2005 was acquired by FP Marine Risks in April Prior to that, he spent 23 years in Hong Kong as the Chief Executive of a major international broker and several years with the insurance subsidiaries of a number of well known shipping companies in London and Bermuda. Richard has over 40 years experience in the insurance field and is a Chartered Insurance Practitioner and qualified as an A.C.I.I. Dennis Tang Regional Managing Director, Greater China Dennis joined FP Marine Risks in June His marine insurance career spans well over 30 years and includes underwriting, average adjusting and broking. Dennis is a leading figure in the marine markets of Hong Kong and Taiwan and a respected authority on all forms of facultative marine reinsurance. Dennis is a Chartered Insurance Broker of the Chartered Insurance Institute, uk. Wang Wei Chief Representative, Beijing Wei joined FP Marine Risks in early 2003 having previously worked as a reinsurance broker for an international broker in Singapore. Additionally, Wei has a background in the Greater China trading industry. Heading up the Beijing office, Wei is responsible for managing and expanding FP Marine Risks Greater China business, with a particular focus on cargo risks. 6 Company Profile

9 Lesley Jamieson Head of Operations Lesley has more than 20 years experience in the international and domestic accident, health, travel and marine insurance markets, incorporating all aspects of operational, product & project management. With a particular emphasis placed on technical compliance, and service excellence. In her varied career, she has set up and managed operational units in Hong Kong, Miami and Shanghai. 7

10 Active Classes of Business Shipping Hull and Machinery Physical loss or damage cover for all types of vessels. The scope, basis and extensions of cover provided are adapted to suit individual clients requirements. Disbursements (Increased Value) or Freight Interest Insurance An amount insured in excess of the vessel s sum insured, which is calculated to cover additional costs and expenses (including lost freight earnings) associated with the total loss of a ship. Protection and Indemnity (P&I) Third party liability cover for all types of vessels. Arranged with International Group clubs, independent clubs or commercial underwriters. Designed to dovetail with a vessel s hull and machinery insurance. Freight, Demmurage and Defence (FD&D) Also referred to simply as defence. In most instances an optional adjunct to P&I coverage. This insures the shipowner from legal costs associated with either the defence or pursuit of a claim relating to the insured vessel. For example, the legal fees resulting from a charterparty dispute. Builders Risks Physical loss or damage cover for a shipbuilder during a vessel s construction period. Customarily tailored and extended to include faulty design risks during a warranty period and in accordance with specific shipbuilding contracts. Builders Risks Consequential Loss Cover to protect a ship owner from a delay in a vessel s delivery as a result of a casualty during construction. Typically arranged in the event of a vessel being built to meet contractual delivery deadlines or to comply with a contract of affreightment. Charterers Liability Insurance to protect charterers of vessels from a range of liabilities, either though contract or in tort. This can include liabilities resulting from damage to the vessel itself, or from third parties directly or by way of indemnity. Charterers Cover for General Average (GA)/ Salvage Costs Designed to give charterers greater control during a salvage or GA event and suitable for any charterer who wishes to protect a contract to provide services for mainline operators, shippers or forwarders. This cover allows a charterer to step in for cargo interests and provide security on their behalf, as well as settling the claimed GA and salvage costs. Charterers Piracy Trade Disruption Covers payments that charterers are liable for in the event of a vessel being captured. Available on a single breach and annual basis, this insurance allows charterers to declare vessels for the specific period, whilst transiting or calling at ports in high risk areas. Crew Personal Accident (PA) Cover Personnel accident cover designed specifically for a ship s officers and crew. Often arranged in circumstances where the vessel is not entered with a P&I Club, or arranged under contract by owners or managers for the benefit of crew and their dependents. Hull and Machinery War and Strikes Risk Cover against war, strikes, riots, civil commotions etc. Generally, but not always, arranged separately to a vessel s hull and machinery insurance and extended to include war protection and indemnity risks. Trading to excluded areas (as defined within the London market s list of excluded areas) is customarily subject to specific agreement. 8 Company Profile

11 Loss of Hire Insurance designed to protect a shipowner for potential loss of earnings of a vessel (either freight or charter hire) resulting from a casualty. Cover is usually stipulated to respond in the event of a peril insured under the vessel s hull and machinery policy. Marine Kidnap and Ransom Ensures that if a vessel is captured and a ransom demanded, the shipowner is able to respond quickly and with the support of experienced crisis-handling professionals to ensure the safety of the crew and expedient release of the vessel. It covers the ransom paid, the loss in transit of the ransom, the fees and expenses of security experts, plus certain additional expenses and legal liability. Mortgagees Interest Cover to protect the financial interest of mortgagees in the event of a loss which is unrecoverable from the vessel s hull and machinery insurance. For example, a claim for total loss repudiated by hull underwriters due to it occurring outside the policy s trading area (warranty). Vessel Trade Disruption An extended form of loss of hire cover which protects a shipowner from loss of revenue caused by a broad range of geo-political exposures. Particularly suited, though not exclusively, to ferries and cruise vessel owners. Yachts and Pleasure Craft Hull and machinery, and third party liability cover for yachts and pleasure craft valued over USD1 million, including chartered. 9

12 Liabilities Ship Repairers Liability Insurance that protects a ship repairer from liabilities whilst the vessel is under their care, custody and control. Protection and Indemnity (P&I) Third party liability cover for all types of vessels. Arranged with International Group clubs, independent clubs or commercial underwriters. Designed to dovetail with a vessel s hull and machinery insurance. Charterers Liability Insurance to protect charterers of vessels from a range of liabilities, either through contract or in tort. This can include liabilities resulting from damage to the vessel itself, or from third parties directly or by way of indemnity. Designated Persons Ashore Personal Professional Indemnity In an accident where pollution, damages or injury occur, the Designated Person can be held personally responsible. This insurance covers a Designated Person s liability from professional negligence, the contingent liability of a claim that would normally be covered by their employer s P&I policy and legal expenses to defend a claim. professional duties. Cover extensions include third party liability and liability for fines and duty. Marine Trades A cross-class insurance package providing protection for marinas, yacht clubs, pontoon and marina manufacturers, boat dealers, chandlers and equipment suppliers, large yacht builders and repairers, small fishing harbours and harbour commissioners. This package covers third party liabilities, no fault wreck removal, damage to buildings and their contents, handling and lifting equipment, business interruption, owned vessels, goods in transit and loss of money. Port, Harbour and Terminal Operators Marine Package Policy This insurance provides cover for the property, equipment, liabilities and financial exposures of port authorities, as well as the port, harbour and terminal operators who work there. Cover extensions are available for excess protection and indemnity, removal of wreck, fines and penalties. Ship Brokers, Ship Agents and Ship Managers Liability Cover to protect transport intermediaries against claims for negligence and errors & omissions. Freight Services Liability Comprehensive liability and physical damage insurance programmes for forwarders, NVOCCs and other logistics and distribution companies including liabilities to cargo and third parties, errors & omissions, and physical damage to owned or leased containers. Marine Pilots Liability This insurance provides cover against claims made against marine pilots. Cover extensions are available for third party liability and personal accident. Marine Professional Indemnity For marine surveyors, consultants, architects, ship managers and other marine professionals. The insurance covers claims arising from legal liability and errors & omissions in the exercise of the insured s Stevedores Liability Insurance against legal liabilities incurred for damage caused to vessels, cargo being handled, property (buildings, wharves, etc.) or for third party death or injury as a result of stevedoring operations. Sub-sea Insurance Sub-sea insurance solutions for commercial divers, ship survey contractors, maintenance engineers and the renewable, oil and gas marine energy markets. This package can include coverage for professional indemnity, personal accident and employers and products liability. In addition, we can also provide comprehensive sub-sea equipment cover for the liabilities arising out of the physical loss or damage to the equipment whilst in use, in transit or in store on a worldwide basis. 10 Company Profile

13 Trade Cargo of All Types Insurance programmes for all types of cargo, whether by sea, land or air, travelling anywhere in the world. Each cover is individually created to address the risks involved and will include an appropriate range of extensions providing broader coverage than is offered under standard Institute or Market clauses. Stockthroughputs and Stand-Alone Stock Protections Extended cargo and logistics insurance programmes incorporating longer term storage, processing or distribution centre risks. Guaranteed Outturn Extended cargo covers for the bulk trades (most particularly bulk liquids) providing protection for paper losses in excess of normal shortage and where there is no apparent or identifiable cause of loss. Project Cargoes and Delay In Start-Up Marine cargo and consequential loss covers for construction or other infrastructure projects anywhere in the world (also known as Advanced Loss of Profits ALOP or Delay in Start-Up DSU ). Frequently requiring substantial insurance capacity from worldwide insurance markets. Rejection Cover against the refusal of inspection authorities to allow the import of specific insured goods into the intended destination country. Most particularly of relevance to shippers of foodstuffs and perishable goods. This is almost invariably insured as an extension to a cargo programme. Marine Equipment and Cash on Board Machinery, equipment, cash or valuables carried on board a ship which is not covered under the vessel s hull & machinery insurances. This would typically include charterer s equipment or master s cash. Where necessary, coverage may be extended to include transits to and from the ship as well as shoreside storage exposures. Transit and Forwarding Risks Comprehensive liability and physical damage insurance programmes for forwarders, NVOCCs and other logistics and distribution companies including liabilities to cargo and third parties, errors & omissions and physical damage to owned or leased containers. Trade Disruption and Consequential Loss Contingent insurances individually designed to address specific financial exposures relating to a marine peril faced by companies trading anywhere in the world. This might typically involve additional costs or expenses arising from the delayed arrival of goods and would generally be integrated into a larger cargo insurance programme. Credit, Financial & Political Risks Protection against open account and letter of credit exposures as well as political violence or terrorism risks in relation to the maritime industries. Container Operating and Leasing Risks Comprehensive insurance programmes for container leasing and operating companies including physical damage on owned or leased equipment, lessor default, repatriation & recovery, loss of revenue and third party liabilities. Fine Art, Specie and Exhibition Risks Insurance programmes for fine art, specie, antiques and valuables whilst in transit and on exhibition. Trade Finance Comprehensive cargo insurance programmes for trade financing transactions which can include covers for extended, non-incidental pre- and post-shipment storage, war on land, and confiscation. 11

14 Office Locations Hong Kong 26/F, The Centrium 60 Wyndham Street Central Hong Kong Beijing Room 30, 11th Floor North Building Beijing Kerry Centre No 1 Guanghua Rd, Chaoyang Beijing , China Taipei 2/F-2 No. 56, Sec 2, Dunhua S Road Da-An District Taipei City, Taiwan

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16 Hong Kong Beijing Taipei info@fp-marine.com fp-marine.com/linkedin Lloyd s Broker A member of the Hong Kong Confederation of Insurance Brokers Authorised and regulated by the China Insurance Regulatory Commission Authorised and regulated by the Ministry of Finance in Taiwan. Member of the Hyperion Insurance Group.