XII Annual International Seminar “Ship owner and Insurer: Insurance Payments”

Divided into some parts, the seminar took attendees on a journey through the complexities surrounding insurance payments giving separate consideration to the issues that arise in the context of claims handling.

 

On the ground of their wide practical experience speakers well known for their enthusiasm for the subject as well as being experts in their field:

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• reviewed matters relating to reimbursement for ship-owners’ liability insurance

• the impact of local and foreign recent legal and regulatory developments

• offered effective methods of P&I claims handling, what should be done to avoid claims without losing the cover

• explored remedies that P&I Clubs might have against Owners.

• considered topical questions on the issue of “Forwarders: Who are they? To insure or not to insure?”

• offered shipping specialists valuable insights into existing interrelations between all parties to the shipment: shipper - charterer - ship owner.

• stressed the need of legal audit, discussion of terms of contracts, contracting party’s verification to prevent painful deliberations as to against whom to make the claim: the carrier, port, forwarder or …?  

• reviewed the legal relations between the assured and the insurer, conflict situations and arising claims from a position of broker. Professional liability need to be insured and the standards and principles of brokers’ professional ethics should be developed as soon as practicable.

• analyzed General Average cases regarding insurance payments, specified typical GA expenditure, reasons to decline claims; also outlined calculation of contributory value, who pay GA and what may affect contributions payable for salvage in GA.

 

In final inter-active discussion regarding insurers’ role to pave the way for successful and cost-effective shipping the participants were offered useful recommendations and performance criteria for selection of insurance company, which will be capable of ensuring adequate protection to the best advantage of the assured.

 

The presentations made by insurance companies were distinguished for their optimism. The insurers emphasized that they enjoy their job and are conscious of their responsibility to the clients for the results of their work. They mainly work with good long-term partners and they understand their problems, offer clear solutions in insurance payments schemes, implement strategies to provide a truly reliable service.

 

This seminar encouraged exchanging experiences and knowledge through interactive master classes and discussions, which means that participants learned not only from the speakers but also from fellow attendees about current methods of reducing risks and how to avert losses.

 

Director of Remedy Law Firm Andrey Suprunenko observed in his closing remark: “The combination of detailed presentations, inter-active case studies and practical discussion sessions ensures that these seminars remain dynamic, stimulating and up to date. They provide valuable guidance how to avoid the pitfalls and take advantage of the market in any transaction and attendees have the opportunity to discuss issues with fellow attendees and experts in a relaxed environment. By being among the participants of the Seminar, you will have an opportunity to attract new clients and re-connect to the existing clients, as well as to establish formal and informal contacts with potential partners and investors. We will be glad to welcome you all at the next seminar in September 2010!”

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