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Hull & Machinery insurance is a significant subject because ships sail around the world, they are owned by people of diverse cultures, they operate in different weather conditions, they carry different cargoes; and the vessels are built to a variety of different standards and operated by individuals and companies with many different skill sets. In addition to this, the many clauses used all around the world, maritime law, general average, and all the different conventions that may (or may not) apply – makes for an interesting career and is not something that can be learned quickly.
This series will largely benefit personnel in the beginner and intermediate levels. Those in the beginner level will be able to understand the basics of the maritime industry and those in the intermediate level will gain from some topics as refresher and get a better understanding of the overall subject.
Session 1 - Passenger Vessels Plus General Average, Sue & Labour, And Salvage Contracts Including Lloyd’s Open Form.
28 September 2021, 11.00 a.m. - 12.30 p.m.
This session offers a mix of topics about the various exposures presented by passenger vessels, both large and small, before moving on to explaining the unique concept of General Average and how it operates and finally Sue & Labour and Salvage Contracts; and how the unique Lloyd’s Open Form “no cure no pay” concept works.
Session 2 - Dredgers Plus Vessel Classification, Survey and Seaworthiness - The Issues.
15 October 2021, 11.00 a.m. - 12.30 p.m.
Dredgers come in all shapes and sizes and utilize both high tech and low tech methods of dredging. The presenter will demonstrate this clearly before moving on to the subjects of vessels classification and surveys; and why they are important before finally tackling the many issues surrounding a “seaworthiness” warranty, if it is not worded carefully.
Session 3 - Livestock Carriers and The Importance of Understanding How and Insurance Policy Operates.
2 November 2021, 11.00 a.m. - 12.30 p.m.
Livestock carriers present underwriters with the unusual risk of a cargo that moves. The presenter will discuss about this vessel from the underwriter’s perspective before delving into some of the key technical points in the marine insurance business including the Insurance Act 2015, Broker’s slips, Law and Jurisdiction, Arbitration, the possible extent of liability under a marine hull policy; and the importance of understanding how an insurance policy operates in the eyes of the law.
Session 4 - Fishing Vessels, Log Carriers Plus the Importance of Maintenance.
16 November 2021, 11.00 a.m. - 12.30 p.m.
Fishing vessels is a large topic. The presenter will show the different types of fishing vessels and how different methods of fishing works, and the sensitive subject of sustainability. This is followed by discussion on Log Carriers and the issues they present, and the importance of vessel maintenance.
Session 5 - Coal Carriers, Cement Carriers Plus Loss of Hire Insurance
11 January 2022, 4.00 p.m. - 5.30 p.m.
Coal carriers and cement carriers present their own unique risks to underwriters. The presenter will explain how these vessels operate and how the risks they present should be dealt with. This is then followed by a discussion about Loss of Hire where the presenter will explain the concept behind the coverage, some of the wordings in the market that are available, and how the coverage is usually rated.
Session 6 - Asphalt Tankers, Power Barges, Lift Boats Plus Disbursement and Mortgagee’s Interest Insurance.
25 January 2022, 11.00 a.m. - 12.30 p.m.
This session is a varied session about the risks associated with Asphalt tankers, power barges and Lift boats. The concepts of both Disbursements & Increased Value insurance and Mortgagee’s Interest Insurance will be covered; as well as the benefits these coverages both offer to the ship owner and banks respectively.
Session 7 - Offshore Oil & Gas Business.
15 February 2022, 11.00 a.m. - 12.30 p.m.
This is the final session in the series where the presenter will focus on offshore oil and gas business. In this session the will talk about the drilling contractor’s equipment, namely the Jack-up drilling rig, the Semi-submersible drilling rig, and the Drillship; explaining how each of the vessels operates and how they differ in their method, capability, cost, and mobility.
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 the Malaysian Insurance Institute textbooks entitled as follows:
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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 - Passenger Vessels Plus General Average, Sue & Labour, And Salvage Contracts Including Lloyd’s Open Form.
27 September 2021, 6.00 p.m. -
SESSION 2 - Dredgers Plus Vessel Classification, Survey and Seaworthiness - The Issues.
14 October 2021, 6.00 p.m.
- SESSION 3 - Tankers, Bulkers, Container Vessels - How These Vessels Operate
1 November 2021, 6.00 p.m.
- SESSION 4 - Fishing Vessels, Log Carriers Plus the Importance of Maintenance
15 November 2021
- SESSION 5 - Coal Carriers, Cement Carriers Plus Loss of Hire Insurance
10 January 2022 - SESSION 6 - Asphalt Tankers, Power Barges, Lift Boats Plus Disbursement and Mortgagee’s Interest Insurance
17 January 2022 - SESSION 7 - Offshore Oil & Gas Business
24 January 2022
Registration Fee:
MII Members: Complimentary
Non Members: RM 50.00 / USD 15 (fee for each webinar session)
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