International Group of P&I Clubs’ Post

Effective casualty management requires communication and collaboration. The best preparation for a serious casualty is building relationships across government and industry and to develop an understanding of the appropriate lines of communication in advance. The International Group of P&I Clubs has produced a number of podcasts focussing on salvage and wreck removal. In this first instalment, Nick Shaw, CEO of the IG, explores the intricacies of effective casualty management and examines the optimal ways in which authorities, salvors, and insurers can work together.  https://lnkd.in/e5Yj2ESy

Rising Concern of Stern Tube Damages in the Maritime Industry The increasing number of stern tube-related damage claims in recent years has raised significant concerns within the maritime industry. The recent memo from Cefor, the Nordic Association of Marine Insurers, highlights the need for proactive measures to address this issue. Collaboration among industry stakeholders is crucial to raise awareness and implement preventive measures against stern tube damages. It is imperative to notify classification societies of operational failures and seek guidance to mitigate risks effectively. Such issues have potential impact to Business continuity and possesses inherit risk to impact Operations and Commercial aspects to Fleet Management. #Maritime Safety https://lnkd.in/dC4nBitF

Welcome to our carousel series! Today, we're diving into demolition insurance—essential coverage for businesses involved in demolition activities. Discover why demolition insurance is crucial for protecting your equipment, projects, and business operations. In this carousel, we'll explain what demolition insurance covers, who needs it, and the benefits it provides. Ready to protect your projects? 🚧 Check out our website for a personalised quote and secure your business today! #DemolitionInsurance #ProjectProtection #BusinessSecurity #TridentInsurance

As sector specialists, the Amphitrite team are well-versed in the language of our industry. But while most people know the difference between port and starboard, some marine insurance terms are a little more obscure. Word of the Week is our attempt to expand your seafaring vocabulary. If you’d like to progress from Able Seaman to Admiral, this is essential reading. HITCHMENT The marrying of two or more portions of one shipment that originate at different locations, moving under one bill of lading, from one shipper to one consignee. #amphitrite #embracethechallenge

🚨 One Year Later: Titan Submersible Tragedy 🚨 🚢 It's been a year since the Titan submersible implosion during its Titanic expedition. Five lives were tragically lost, and the journey for justice continues. 💼 In a recent interview with FOX 13, our own Miguel Custodio discussed the legal complexities: 🕵️♂️ Pending Lawsuits: Families are awaiting the Coast Guard's report to proceed with legal actions. 📜 Waivers vs. Gross Negligence: OceanGate's significant safety lapses may nullify the waivers signed by passengers. 🌊 Jurisdiction Issues: Legal actions hinge on where the waivers were signed, not the location of the incident. 💡 Insurance Accountability: Lawsuits will likely target the insurers of OceanGate, ensuring avenues for justice remain open. 🔗 https://lnkd.in/gEugBU9N #LegalInsights #TitanSubmersible #OceanGate #waivers #CDLaw #PersonalInjuryLaw

Amphitrite Word of the Week As sector specialists, the Amphitrite team are well-versed in the language of our industry. But while most people know the difference between port and starboard, some marine terms are a little more obscure.    Word of the Week is our attempt to expand your seafaring vocabulary. If you’d like to progress from Able Seaman to Admiral, this is essential reading.  As you’d expect, we’ll start with an A…   AVERAGE A common and longstanding marine insurance term. Meaning ‘damage sustained at sea’, it is believed to have been coined in the early 16th century. An average adjuster is someone who assesses an insurable loss. Marine damage is defined either as ‘particular average’ (borne by the owner of the damaged property) or general average, whereby the owner is permitted to claim a proportional contribution from all the parties to the marine venture. #amphitrite #embracethechallenge

It's Friday, and you know what time it is... #FunFactFriday ⭐ Did you know? One of the most critical aspects of insuring bore directional drilling companies is covering the risk of "frac-outs." A frac-out occurs when drilling fluid escapes the borehole and enters the surrounding environment, potentially causing significant environmental damage and costly cleanups. This is why having specialized Environmental Liability Insurance is crucial for bore directional drilling companies. This coverage helps manage the financial risk associated with frac-outs, ensuring that companies can address any environmental impacts swiftly and effectively. At The Holmes Organisation, we understand the unique challenges of the bore directional drilling industry and provide tailored insurance solutions to keep your operations protected and compliant. Stay informed, stay protected, and have a fantastic Friday! #FunFactFriday #InsuranceIndustry #BoreDirectionalDrilling #EnvironmentalLiability #RiskMitigation #TheHolmesOrganisation #ConstructionSafety #Jacksonville

Is a tornado a windstorm? I'd say no. Nice post on Merlin Law Group about a recent case in Texas where insurers argued the meaning of 'windstorm' was (a) unambiguous and (b) included tornado. This was significant because a higher deductible applied for windstorm. The policyholders countered that windstorm was not defined in the policy, and that tornadoes are in any case different to windstorms, so the lower deductible should apply. More detail in the below link. https://lnkd.in/gKgcKFAE

At OtterMasters, we believe that proper documentation is crucial for successful restoration projects. Here’s why detailed records are so important: 1. Facilitates Insurance Claims: Clear evidence of damage and restoration work ensures a smooth and fair insurance claims process. 2. Ensures Transparency and Accountability: Detailed records promote trust and accountability, showing clients exactly what work has been done. 3. Enhances Communication: Comprehensive documentation keeps everyone on the same page, reducing misunderstandings and ensuring smooth project progression. 4. Tracks Progress and Quality: Documenting each phase helps us maintain high standards, address issues promptly, and meet client expectations. 5. Provides Historical Reference: Documentation serves as a historical reference, helping anticipate challenges and improve practices based on past projects. Trust OtterMasters Home Services for meticulous and professional restoration services. 📸📝 #Documentation #InsuranceClaims #Transparency #QualityAssurance #OtterMasters #WaterRestoration #WaterMitigation #Lubbock #WestTexas

LOF Decisions and the Prudent Uninsured In marine salvage situations, a shipowner’s relationship with their insurers is one based on acting as a "prudent uninsured." This principle mirrors the shipowner’s obligation to cargo interests under Article 7 of the 1989 Salvage Convention. The owner must act reasonably to protect their interests and those of their insurers. However, as past cases show, there are circumstances where a prudent uninsured owner may not immediately sign a Lloyd’s Open Form (LOF) contract if a more reasonable alternative—like towage on commercial terms—exists. For instance, Clarke J’s judgment in The Pa Mar emphasised that once salvage assistance was obtained, the owner had time to evaluate options before selecting a distant port of refuge. While urgency often dictates decisions, owners should consider all alternatives before entering an LOF. If a vessel is in calm waters with no imminent danger, the owner can consult brokers and lawyers to negotiate a better commercial contract. Yet, decisions made in the heat of the moment may still be justified. Accepting an LOF under "no cure no pay" terms might, in certain cases, offer better security than commercial towage. The key is ensuring that the owner takes into account the interests of their crew, cargo, environment, and charterers—alongside their hull and P&I insurers. #MarineLaw #Salvage #Shipowners #InsuranceLaw #LOF #RiskManagement #Maritime