Ship managers, as subcontractors, play a critical role in ensuring compliance with international conventions and limits, while the duties of disclosure and utmost good faith are essential for both insurers and the insured. P&I cover not only protects shipping companies but also aids flag states in promoting safety and security on board their vessels.
Insurance cover as a Risk Management tool
loss records and statistics
particulars of the subject of insurance
registry and ownership – importance of the data included in vessels certificate of registry
Risk Profile- duty of disclosure, utmost good faith, duties of the insured and the insurers
The profile of the Ship-managers as the subcontractors to the owners
International Convention liability limits: Bunker, Civil liability, Wreck removal, MLC, Hague/Visby rules, LLMC
Defining Limits in an Insurance cover, P&I and HM
National rules and regulations, the need for improvement
The need for a consistent register in the books. Accounting and VAT related issues
The Role of the Shipping companies in the Reporting and submitting a claim, maintaining a record, follow ups. Collecting & preserving evidences P&I cover. As a tool for flag states to maintain a safe and secure environment on board their ships
