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Hull & Machinery insurance is a huge subject, because ships sail around the world, they are owned by people of diverse cultures, speaking different languages, they operate in many different weathers, carry a huge array of different cargoes and the vessels themselves are built to a variety of different standards and are operated by individuals and companies with many different skill-sets. Add to this, the many different clauses used all around the world, maritime law, general average, and all the different conventions that may (or may not) apply – it makes for an interesting career and is not something that can be learned quickly.
This 5-session course will be helpful to both beginners and intermediate learners, each of whom should be able to gain something from it. Beginners will be able to understand the basics of the maritime industry, while intermediate learners will be able to use the information given as a refresher and ultimately gain a better of understanding of this line of insurance.
SESSION 1 - Shipbuilder's & Repairer's Risks
(29 June 2021, 11.30 a.m. – 12.30 p.m.)
By using a combination of pictorial slides and technical slides, attendees will be introduced to shipyards and shipbuilding, and will be given a comprehensive overview of the risks involved and how these risks are factored into the rate charged for insuring a ship to be built.
SESSION 2 - Tugs, Barges and Offshore Support Vessels - How These Vessels Operate
(7 July 2021, 11.30 a.m. – 12.30 p.m.)
Before insuring a vessel, an underwriter needs to understand what the vessel does and why. In this session, attendees will learn about tugs, barges and offshore support vessels to understand the many different functions of these vessels, each of which poses its own unique risks that the underwriter must consider.
SESSION 3 - Tankers, Bulkers, Container Vessels - How These Vessels Operate
(14 July 2021, 11.30 a.m. – 12.30 p.m.)
Following the theme of Session 2, attendees will learn in more detail about tankers, bulkcarriers, container vessels and large offshore working vessels to assist them in gaining a full understanding of the work these vessels do and the unique risks connected with each of the vessels, and why this is important to the underwriter.
SESSION 4 - Hull & Machinery Rating
(26 July 2021, 11.30 a.m. – 12.30 p.m.)
This session is more technical as the presenter tackles the subject of rating for Hull & Machinery, considering there are no published rating guides for Hull & Machinery. The key factors that contribute to the rate – Basis of Recovery, Size, Building and Repair costs – are explained, and examples are presented to demonstrate how a rate is calculated.
SESSION 5 - Claims and how they apply
(2 August 2021, 11.30 a.m. – 12.30 p.m.)
In this session, attendees will be taken through the Institute Time Clause and given practical examples of how the clauses are applied to real life loss situations.
Speaker’s Profile
Mark Stevens
Managing Director
Coastal Marine Asia Holdings Limited
Mark Stevens has been working in the international insurance market since 1972. After 20 years as a marine and offshore energy broker at Lloyd’s in London, he moved to Kuala Lumpur in 1993 to set up an office for a Lloyd’s broker. In 2003, he moved to Jakarta as President Director for one of the world’s mega brokers and later joined the Management Board of one of the leading insurers in Jakarta.
Mark was one of the three founders of Coastal Marine Asia Limited in 2012, an underwriting and broking company.
Mark is the author of:
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An Overview of Risk Management and Insurance for the Shipowner
- An Overview of the Insurances for the Offshore Oil Gas Industry
- An Overview of the Insurances for Large Onshore Construction Projects
Registration closing date:
- SESSION 1 - Shipbuilder's & Repairer's Risks
28 June 2021, 6.00 p.m.
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SESSION 2 - Tugs, Barges and Offshore Support Vessels - How These Vessels Operate
6 July 2021, 6.00 p.m.
- SESSION 3 - Tankers, Bulkers, Container Vessels - How These Vessels Operate
13 July 2021, 6.00 p.m.
- SESSION 4 - Hull & Machinery Rating
23 July 202, 16.00 p.m.
- SESSION 5 - Claims and how they apply
30 July 2021, 6.00 p.m.
Registration Fee:
MII Members: Complimentary
Non Members: RM 50.00 (fee for each webinar session)
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