Over 500 representatives from the maritime and insurance industries worldwide are expected to attend the third edition of the Asian Marine Casualty Forum (AMCF) this week on 11 and 12 April 2019 at the Marina Bay Sands Singapore. Organised biennially by marine and engineering consultancy LOC since 2015, the forum is a non-profit event during the Singapore Maritime Week and its theme for this year is 'Marine casualties in the 21st century - is the industry coping?'
AMCF will discuss a wide range of contemporary issues plaguing the marine salvage industry, such as eliminating the risk of container-ship fires as well as the usefulness and effectiveness of quantitative risk assessment and risk transfer when dealing with casualties currently.
The Standard Club director of claims Sam Kendall-Marsden will discuss these issues from a marine insurer’s point of view during the forum’s opening presentation and panel discussion. He will explain how the 13 International Group Protection and Indemnity (P&I) clubs collaborate broadly across industry issues, through initiatives such as identifying the most significant drivers in relation to wreck removal costs, producing guidance to clubs and engaging in outreach with maritime states for casualty management. He will also touch on how mega boxship casualties are a significant concern for insurers and how a delay in decision-making could lead to a casualty and a greater exposure for the P&I club.
Source: Asia Insurance Review
The full article is available on the Asia Insurance Review website.