Allianz: Key Trends Driving Marine Insurance Claims Activity

Fire and explosion incidents are behind the most expensive insurance claims in the marine industry, while cargo damage is the most frequent cause of loss, reports Insurance Business quoting a report by Allianz Global Corporate & Specialty (AGCS).

In a recent report, AGCS analysed more than 240,000 marine insurance claims worldwide between January 2017 and December 2021, worth approximately €9.2 billion (SG$13.05 billion) in value. The insurer then identified several claims and risk trends that...

https://mfame.guru/allianz-key-trends-driving-marine-insurance-claims-activity/

[FAQ] Checkpoints To Tackle Physical Cargo Damage

Cargo damages are important issues that affect shipowners. Keeping that in mind the UK P&I Club has formulated a guideline to handle such cargo damage claims.

Let’s take a look at them.

CONTROLS:

Weather routeing

  • Does vessel participate in weather routeing service?
  • Does ship receive weather maps and messages?
  • Is master advised in ample time of any adverse weather?
  • Does ship take evasive action, ie alters course/reduces speed?
  • Are adequate records maintained?
  • Are sea protests made?

Adequate packing...

https://mfame.guru/faq-checkpoints-to-tackle-physical-cargo-damage/

P&I Claims: Wet Cargo Damage Due To Hatch Cover Leaks

  • Over 40% of all P&I claims are due to damaged cargo caused by water ingress from hatch covers.
  • Even the smallest leak can do extensive damage to cargos like steel and paper that are sensitive to seawater.
  • It costs the industry $46.9m per year and reports of leaking hatch covers are the most frequent cause for selecting a vessel for an unscheduled condition survey.
  • Regular and efficient testing can save companies millions in claims for damaged cargo.

Cargo damage as a result of water ingress...

https://mfame.guru/pi-claims-wet-cargo-damage-due-to-hatch-cover-leaks/

Wan Hai Lines forces fines for misdeclared cargo

In light of the misdeclared cargo contents, Wan Hai Lines announced that forced new measures against shippers who intentionally misdeclare cargo. In fact, the Taiwanese carrier company informed that if the declarations and the shipping documents are not true, it will immediately suspend the delivery operation.

Specifically, WHL warned its customers that has all the rights to suspend the delivery of the cargoes or terminate the delivery contract for the cargoes at any time during the carriage.

GET...

https://safety4sea.com/wan-hai-lines-forces-fines-for-misdeclared-cargo/

Cargo theft trends on global supply chains during 2019

The transport and logistic insurer TT Club along with the global provider BSI issued the “Cargo Theft Report 2020” highlighting the impact of cargo theft on the global supply chain, while giving its recommendations of how theft risks can be reduced.

During 2019, both organizations marked several key trends concerning cargo theft incidents. In fact, these trends include both the enormous targeting of cargo trucks for theft in comparison to all other modalities as wells as the food and beverage...

https://safety4sea.com/cargo-theft-trends-on-global-supply-chains-during-2019/

Ventilation records vital in cases of cargo moisture damage

The Gard P&I Club informed it has handled numerous cargo claims over the last years, where condensation was found to be the contributory cause of cargo damage. When dealing with such claims, the Club advises, the voyage records of the hold ventilations play a central role in mitigating the claim.

When the dewpoint temperature of the outside air is lower than that of the air inside the cargo hold, this can result in surface condensation.

The only way to minimize or prevent moisture condensation...

https://safety4sea.com/ventilation-records-vital-in-cases-of-cargo-moisture-damage/

Investigation report: Truck drivers remaining in vehicle cabs onboard ship, pose a safety risk

UK MAIB recently published its investigation report, focusing on a roll-on/roll-off (ro-ro) passenger vessel which rolled heavily due to very rough seas and winding conditions. Namely, ferry’s cargo sifted and caused damage to the vehicles onboard.

The incident 

As UK MAIB informs, it was at 0633 on Tuesday 18 December 2018 when the roll-on/roll-off (ro-ro) passenger ferry “European Causeway” was dealing with very heavy seas in its voyage from Larne, Northern Ireland to Cairnryan, Scotland.

During...

https://safety4sea.com/investigation-report-truck-drivers-remaining-in-vehicle-cabs-onboard-ship-pose-a-safety-risk/

English Court clears owners’ obligations in cargo damage

The Standard Club provides the case of a ruling made by the English Commercial Court concerning Alianca Navegacao e Logistica Ltda v Ameropa SA (The Santa Isabella) [2019] vessel which arrived at the port of destination with damaged cargo.

This case provides useful guidance to parties involved in the bulk cargo trade, as:

  1. the legal test for a usual and customary route;
  2. owners’ obligation to ventilate and care for cargo.

Facts

Alianca, the disponent owner of the bulk carrier Santa Isabella,...

https://safety4sea.com/english-court-clears-owners-obligations-in-cargo-damage/

Dealing with cargo hold lights’ fire

In its report on dealing with cargo fires, the Swedish Club has focused on cargo fires and explosion that can be caused by cargo hold lights presenting a case study of a bulker that caught fire after its cargo floodlights were not connected according to the approved ‘as built’ circuit diagrams.

Overall, many are the bulk carrier/general cargo holds that have fixed cargo lights; These lights can easily ignite combustible cargoes such as grain, animal feed, wood chips, pulp and paper if they are...

https://safety4sea.com/dealing-with-cargo-hold-lights-fire/

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon