Fire Claims

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Information about Fire Claims
Entertainment

Published on November 6, 2007

Author: Cuthbert

Source: authorstream.com

Fire Claims The Cause & Cost An Insurers View Karl Lumbers London 13th March 2003:  Fire Claims The Cause & Cost An Insurers View Karl Lumbers London 13th March 2003 Slide2:  Source of Data Overview of large cargo claims Cause of large fire cargo claims Risk Profile Data :  Data Source Claims Files Criteria 100,000 usd Cargo Liabilities Period 15 years Sample size 68 No 59$m Value 2002 Slide4:  Fire costs the industry over 20$m (Est) in large cargo claims a year Cause of Large Cargo Claims :  Cause of Large Cargo Claims Cause of Large Cargo Claims:  Cause of Large Cargo Claims 9th by No 2nd by Value Large Fire Cargo Claims Average Claim Value:  Large Fire Cargo Claims Average Claim Value Type of Cargoes Involved:  Type of Cargoes Involved Large Fire Claims by Value:  Large Fire Claims by Value 6 x 1$m + Risk in Insurance Terms:  Risk in Insurance Terms Risk = Frequency x Consequence Fire Risk = Low/Medium(4.5) x High (860,000usd) What Causes Fire Claims:  What Causes Fire Claims Software Failure or Hardware Failure Slide12:  “To err is human, indeed it is the cause of most of Our misery. Invariably though it is to the gods that we look for remedy” Livy Slide13:  “ Human Error is the cause of most of our misery and it is to the clubs that we look for reimbursement” Software v Hardware Failure:  Software v Hardware Failure Human Failure:  Human Failure High proportion of shore side input Origin of Large Cargo Claim Fires (Where known):  Origin of Large Cargo Claim Fires (Where known) Slide17:  One of our most common findings !!!! Daily Use Tank Glass replaced with plastic tube Deadman lashed in open position 2002 Slide18:  Fuel Oil DB Tank - Sounding Pipe 2002 Slide19:  Sophisticated Cabin Heating !!!! Note paper to protect deck 3/2003 Slide20:  Plain Language !!!!! 2002 2002 Slide21:  Before After Tragic Consquences - 3 Deaths 2001 2000 What Contributed to the Fire (Where known):  What Contributed to the Fire (Where known) Fishmeal Tobacco Cotton Woodpulp Coal What Type of Ship has Fires:  What Type of Ship has Fires $m What Type of Ship has Fires:  What Type of Ship has Fires % number fire claims far exceeds % no cargo ships in Club Is Age of Ship Relevant ?:  Is Age of Ship Relevant ? Age Band of Ships with Large Fire Claims:  Age Band of Ships with Large Fire Claims % number of fire claims far exceed % Club entry For 15-19 yr age band Size of Ships with Large Fire Claims:  Size of Ships with Large Fire Claims Size of Ships with Large Fire Claims:  Size of Ships with Large Fire Claims % number of fire claims far exceeds % entry of 10,000gt - 30,000gt ships in Club Slide29:  10 out of 68 fires occurred in port 52 of the ships were tramping 17 ships were on Voyage Charter 35 ships were on Time Charter Jurisdiction Top 7:  Jurisdiction Top 7 9% 8 % 3% (3%) 3% % figures where fires occurred 3% 1% Large Fire Caused Cargo Claims Trend:  Large Fire Caused Cargo Claims Trend Risk Profile:  Risk Profile Dry Cargo ship 10,000gt - 30,000gt 15 – 19 years old Tramping Time Charter Spontaneous combustion/Discarded cigarettes Shore input Slide33:  What Can We Do ? Slide34:  Know your cargo Ensure a Good Cargo Watch is maintained Enforce No Smoking Practices

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