The Swedish Club Puts Root Cause of Incidents into Focus

 

Claims at a Glance_001The Swedish Club has launched its latest publication, Claims at a Glance, which provides an insight into the full range of claims the Club has handled over the last five years, and is intended as a tool to reduce the frequency of incidents for both P&I and H&M claims. With prevention at its heart, it covers the key lessons learned across a range of real life situations, and provides a useful update of data contained in its most recent loss prevention titles: P&I Claims Analysis; Main Engine Damage; Navigational Claims; Ice – Advice for Trading in the Polar Regions; Heavy Weather; and Wet Damage to Cargo.

Claims at a Glance investigates the causes of a wide range of incidents and makes practical recommendations on how to prevent them. Read more

Could You Handle a Major PR Crisis? Asks The Swedish Club

The Swedish Club_160616004If your ship sinks, can you answer the questions the public wants answered?  Are you and your team prepared should the unthinkable happen? Could a perfect media storm happen on your watch? These were the questions posed to an audience of shipowners, brokers and other key members of the shipping community by Lars Rhodin, Managing Director of The Swedish Club at its 144th AGM, held in Gothenburg on June 16th.

The theme of this year’s Club AGM – ‘What can be done when the damage is done? Can you make a bad case better?’ – was aimed at reminding members and guests that loss prevention doesn’t stop when there is an incident. Read more

The Swedish Club Provides a Guide Through the Marine Insurance Maze

DSC_1734The Swedish Club has once again extended a hand to the insurance industry; sharing its in-depth experience with insurance professionals at the latest Marine Insurance Course, which took place at the Club’s head office in Gothenburg last week.

Delegates from all areas of the marine insurance industry met to learn more about key aspects of marine insurance, looking in detail at both the practical and legal aspects of the profession. Participants were provided with knowledge and skills that could be taken back into the workplace – ranging from the legal implications of terms and conditions, to the practical handling of claims and loss prevention. Read more

Consistent Underwriting Performance in a Challenging Year for the Swedish Club

Singapore, 31 March 2016: The Swedish Club reported a consistent 2015 underwriting performance to its board today with financial stability and cost-efficient quality services being the cornerstones of its offerings to its members. It delivered a balanced underwriting result, despite higher claims activity and increased volatility, and demonstrated a resilience that is underpinned by diversification in its product lines, based on prudent management.

The year began with a series of major casualties, including total losses which were far beyond what could be expected in terms of probability. However, the Club closed the year with a combined ratio of 99%. Read more

DNV GL, Gard and The Swedish Club work together to help reduce anchor losses

Oslo, 8 March 2016. The root cause of many groundings and collisions, lost anchors are among the top five reasons for claims costs. A rising number of anchor losses reported over the last several years prompted DNV GL, Gard and The Swedish Club to investigate this issue. Based on an analysis of damage cases involving anchor and anchor chain losses, the project partners have issued a presentation identifying the most frequent technical and operational causes, and some steps crews and operators can take to address them. Read more

2015 AGM: The Swedish Club Appoints New CFO And New Member To Its Board

The Swedish Club has announced the appointment of a new Chief Financial Officer, Mikael Kromli, who will take up the position on June 15, 2015 and will be based in Gothenburg.

It has also used the occasion of the 2015 Annual General Meeting in Gothenburg to welcome the election of Mr Lim Sim Keat, Managing Director of the Dry Transport Logistics Division of the Singapore-based IMC Shipping Co. Pte, onto the Swedish Club board. IMC Shipping is part of the IMC Pan Asia Alliance Group – a privately-owned enterprise with a diverse range of business interests, including shipping, investments, and lifestyle/real estate.

Mr Kromli, a Swedish national, brings with him vast experience in the corporate finance field, especially in the areas of investor relations, treasury and risk management in the insurance sector.

A past CFO in Sweden’s Volvo Group and at TitanX, Mr Kromli has also worked as CFO at Nobel Biocare, at the time a listed company on the Stockholm Stock Exchange.

Welcoming the two appointments, Lars Rhodin, The Swedish Club’s Managing Director, said they slotted perfectly in line with the Club’s growth strategy. “SK Lim is a key addition to the Club’s board and brings with him valuable experience of working at senior levels within major international companies. In turn, Mikael has the perfect experience and aptitude needed in the further development of the Club.

This year’s Swedish Club AGM has taken the importance of ‘Game Changers’ as the theme of its Members’ Day conference with Justin Gardner, Executive Vice President and Head of the North America Marine Reinsurance team at Willis Re Specialty, and Xavier Villers, Head of Marine at Miller Insurance Services in London giving the keynote speeches in the opening session entitled: “Random events and game changers in marine insurance”.

Dr Jonas Ridderstråle, PhD Business & Economics and Guest Professor at the Ashridge Business School in the UK, will then give his own perspective on the topic of “Game changers — Playing to win the future”.

Acknowledged as one of the world’s most influential and respected business thinkers and speakers, Dr Ridderstråle is the author of international bestsellers such as Funky Business, Karaoke Capitalism and Re-energizing the Corporation.

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For Further Information Please Contact:

Debra Massey, Elaborate Communications          +44 (0) 1296 682356

Notes to Editors:

•             The Swedish Club was founded in 1872 and is today a leading and diversified mutual marine insurance company, owned and controlled by its members. The Club writes Protection & Indemnity, Freight, Demurrage & Defence, Hull & Machinery, Hull Interests, Loss of Hire, War Risks, and any additional insurances required by shipowners or charterers. It also writes Hull & Machinery, War risks and Loss of Hire for Mobile Offshore Units and FPSOs.

•             Its head office is located in Gothenburg, Sweden, with branch offices in Piraeus, Hong Kong, Tokyo and Oslo.

•             More information about the Club is available at: www.swedishclub.com

The Swedish Club Welcomes the World to its 15th Marine Insurance Course

The Swedish Club received a vote of confidence from its members this week when it opened the doors on the 2015 Marine Insurance Course, again held at the Club’s head office in Gothenburg. Delegates came from as far afield as Asia and the Middle East, and over 75% were members of the Club – the highest proportion since it began running the annual event 15 years ago. In a nod to changing times, this year more than half the participants were female professionals – notable in what has traditionally been a male dominated industry.

In addition to shipowners and shipmanagers; marine insurance brokers, club correspondents and lawyers also took part in the event, welcoming the opportunity to increase their knowledge of marine insurance and to strengthen ties with The Swedish Club.

“We are delighted to say that over the years the course has been attracting growing numbers of members who are keen to make the most of the benefits of membership of The Swedish Club,” says Jacob Viero, The Swedish Club’s Director, Marketing and Business Development. “We are a truly global organisation, and this year’s course has seen delegates joining us from China, Kuwait, and UAE, and from high quality organisations such as China Shipping Container Lines, DFDS and Stena. Those entering the marine insurance market can find themselves daunted by its complexity, so we aim to use our in-depth experience to provide insight and to place the benefits of our experience at delegates’ disposal.

“Again this year we have seen a ‘sell out’ event, with a great deal of competition for places. The level of interest has validated the Club’s commitment to offering the right benefits to our members, and demonstrated a commitment to high professional standards from those in our industry.”

The course is being run over five days and covers the three major types of marine insurance: Protection& Indemnity (P&I), Hull & Machinery (H&M) and Freight Demurrage & Defence (FD&D) in addition to highlighting the importance of loss prevention. It looks in depth at both the practical and the legal aspects of marine insurance and aims to give delegates knowledge and skills that they can take back into the workplace.

THE SWEDISH CLUB MAKES ARCTIC TRADE SAFER

According to a new publication issued by the Swedish Club, operators transiting the polar regions are not always fully prepared for the unique challenges that they will face. Yet informing their P&I Club and Underwriter allows the owner to get access to hands-on advice that will reduce their exposure to these increased risks.

As longer ice free summers and increased offshore operations focus attention on the polar regions, transits to and from the arctic ports are set to increase significantly. The commercial attractiveness of these new trading routes has seen yearly transits increase fifteen-fold since 2010, to 60 in 2013. The Swedish Club has acknowledged an increased need to support its members in engaging in this trade with a view of making it as safe as possible.

Yet these routes are like no other, requiring a completely new mindset and an understanding of the importance of the risk assessments and regulations necessary for the success of the voyage. There are a very limited number of polar navigators and few crew with experience of navigating in the polar regions. Consequently, to ensure safe passage The Swedish Club recommends that the ship owner consults their Club/Underwriter to obtain proper advice on the enhanced risks connected with trading in these waters, ensuring they embark upon any voyage as well prepared as possible.

“As summer approaches in the northern hemisphere and operators look to take up the increased opportunities that the opening of the routes offers, it is easy to forget that transiting the polar regions requires a unique set of skills.” says Lars Malm, Director, Strategic Business Development & Client Relationship for The Swedish Club.

“Accident avoidance is key. If a casualty was to occur, assistance would be limited due to the lack of infrastructure, and freezing temperatures can seriously impair the operations of any salvage equipment that can get through, escalating a minor incident into a serious casualty. We are dealing with temperatures as low as -50oC with icebergs as hard as concrete floating in unsurveyed waters.”

The need to address gaps in knowledge and co-ordinate ice data and ice regimes has been identified by The Swedish Club.

“The lack of a coherent ice regimen across the regions also adds to the difficulties,” explains Mr Malm. “For example, at present there are only two Arctic ice-regimes – the Russian and Canadian ice regimes. The Polar Code developed by the IMO is now awaiting ratification, but with the rules that are in force today, a vessel should operate in these areas as if it were sailing under an ice regime.”

The Swedish Club has produced a new brochure, ‘Ice – Advice for trading in polar regions’, the latest in its series of Loss Prevention publications, aimed at the shipowner considering operating in these tempting routes.
For a copy please visit ‘Ice – Advice for trading in polar regions’, on the Swedish Club website.

Marine Insurance Course from The Swedish Club Aims to Simplify Complex Sector

The Swedish Club has seen the successful conclusion of its latest Marine Insurance Course, with standing room only and a packed programme of discussions, seminars and speeches from industry experts in Marine Insurance.

The course is an annual event designed to provide an opportunity for those working for shipowners, ship managers, marine insurance brokers and club correspondents, to improve their knowledge of marine insurance and learn more about The Swedish Club.

“We are pleased to be able to take this opportunity to make a contribution to increasing the knowledge base in our sector,” explained Jacob Viero, The Swedish Club’s Director, Marketing & Business Development, speaking from the Club’s headquarters in Gothenburg, where the event was held. “We believe that The Swedish Club is ideally placed to make this contribution to the marine insurance market. Marine claims are by their nature complex, and this course aims to shine a light on the subject by providing essential background knowledge and practical experience to those who want to know more about the sector.”

Run over five days, the initiative covers the important aspects of marine insurance, ranging from terms and conditions to the practical handling of claims and loss prevention. The focus is on the three major types of marine insurance: Protection & Indemnity (P&I), Hull & Machinery (H&M) and Freight Demurrage & Defence (FD&D).

“This year we were delighted to welcome 31 delegates from over 12 countries, and a wide range of disciplines,” concluded Mr Viero. “We are looking forward to the same level of support for our Marine Insurance Seminars, the next which will be running in Piraeus later in the year.”