Mr Alex Pinto - General Insurance Association Of Singapore PDF
Preview Mr Alex Pinto - General Insurance Association Of Singapore
Damage & Risk Assessment Tuesday 21 June 2011, at The Capital Tower, 168 Robinson Road, Singapore Project Cargo Programme and its Implications by Alex Pinto Director ‐ RHL/CTm For Singapore Maritime Foundation & General Insurance Association of Singapore as part of The Maritime Knowledge Shipping Sessions aviation energy marine non marine 39 Offices Worldwide UK Australia London Services offered: Brisbane Liverpool Loss Adjustment Claim Management Melbourne Aberdeen Glasgow Claim Audit & Review Damage Surveys Perth Sydney Ringwood Dispute Resolution Litigation & Legal Support Coverholder/Reinsurance Review Risk Engineering Middle East Europe Dubai Paris Damage Surveys Doha Brussels Piraeus Skill sets: Asia Rotterdam Qualified Shipbrokers, Aeronautical Engineers, Chemical Hong Kong Geneva Taipei Engineers, Petro‐chemical engineers, Control of Well Engineers, Shanghai Americas Mechanical Engineers, Geo‐technical Engineers, Marine Beijing Calgary Engineers, Structural Engineers, Electrical Engineers, Forensic Tokyo Toronto Seoul Halifax Accountants, Naval Architect, Loss Adjusters, Solicitors, Singapore St. Johns Chartered Surveyors, Marine Surveyors, Aviation Surveyor , Pre‐ Jakarta Vancouver Houston Risk Surveyors, Master Mariners, Mediators, Accountants, Surabaya Balikpapan Miami Environmental Surveyors Mumbai Dallas Selangor New York www.charlestayloradj.com Mexico City A tractor trailer with two giant turbine blades is allowed to travel only at night as It rolls towards a wind farm 300 miles away Picture from National Geographic Project Cargo Infrastructure development trend: • Types • 2008 effects? • Locations • Overall Costs • Consequential loss cover Marine Project Cargo Considerations Background information: • Project Owners ….. • Project Financers …… • Engineering, Procurement & Construction Contractors ……. • Contract review ‐ Who is driver? • Sourcing parties & areas …… • Location & collection point(s) …… • Implementation schedule Marine Project Cargo Considerations Background information (cont’d): Project phases 1. Pre‐ start of Project: – Planning – Financing & – Insurance 2. Implementation: – Construction – Testing 3. Operational The Marine Policy Issues • Marine policy must reflect the nature of project • Cargo movement(s) from /to & …… (supply chain ‐ logistics) • Who are insured(s) – co assured(s) • Who are the broker(s) and for whom? • Who are Surveyor(s) and for what aspect? • Who are Adjuster(s) and for what aspect? The Marine Policy Issues (cont’d) • Coverage • All risk or FPA – against physical damage • Open cover ‐ period & area • Indemnity ‐ valuation • What does CAR cover ? • Additional terms offered • Exclusion • Restrictions The Marine Policy Issues (cont’d) Policy • ICC “A” Marine & Air Coverage with accompanying War & Strike Risk clauses • All shipments • Period ‐ dates • Scope & duration of transit – begins? Ends? • Cancelation Clause • Mind the “gap” viz. CAR • CIF +10% ‐ usually • Limits of Liability – per shipment/ location • 50/50 clause – delay in opening
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