Marine Hull: Risk Assessment & Underwriting

1 day

To give an overview of Marine Hull Risk Assessment:

• the information needed from shipowners
• the considerations for accepting Hull business
• the rating process for Hull risks

The objectives of the course are to:

• explain the types of Marine Hull risks
• understand the rating considerations taken into account when underwriting Hull business
• understand the thoughts of Underwriters when rating Hull Business

• World Trade, volumes and Trading patterns
• the principal types of vessels and their susceptibility to loss
• the most commonly found hazardous voyages
• risk assessment factors for insuring Hulls
• the factors which determine the Hull rate including Type of Vessel; Flag; Classification; Ownership and Management and the type of insurance cover
• Hull Trading conditions and the geographical location problems they may present
• the effect of different types of ship finance arrangements
• variations in ship valuation and the implications for premium rating
• the risk assessment factors for Hull War & Strikes insurance
• the risk assessment factors for Hulls Port Risks and Builders’ Risks
• loss prevention and Risk Management – the methods used and their importance
• the importance and significance of statistics for Marine Hull underwriters