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Ship Risk Assessments
Since 1987, the Club has focused heavily on using its experience of handling and analysing the causes of shipping liability claims to raise awareness of what goes wrong and to get that information to those at the sharp end. Much of this has been done in the form of contemperaneous advice on current claims trends.
Using this experience in a more focused way the Club has now modified its Risk Assessment system to concentrate more on claims reduction rather than that of rule compliance as covered by the many other inspection regimes.
By analysing 20 years of claims and using the formula RISK = FREQUENCY x CONSEQUENCE the Club has identified many of the hazards, threats, consequences and the controlling factors which have been seen to cause/prevent these claims.
By drawing on this analysis and the experience of its claims executives, ship inspectors and underwriters, the Club has defined 76 major threat areas which cause liability claims, and some 450 controls which may be able to help reduce the likelihood of those threats causing an incident.
A visit now involves the use of a structured system which rates and records these threats/controls, so that a more scientific approach to claims prevention/control can be taken. In time the system will show trends and benchmarks which will be used to assist Members in developing a more focused approach to their own safety systems to help manage their risks better.
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- Unique and most effective approach to maritime loss prevention in the P&I industry
- Proactive strategic approach based on known risk threats
- Unifies the experience of both loss prevention and claims handling
- Over twenty years of large claims analysis used to identify and quantify claims ‘threats’.
- Claims handlers experience gives detailed insight on contributing or exacerbating circumstances surrounding identified key threats.
- Fund of knowledge from twenty years ship inspection and loss prevention activity informs the identification of risk or threat pathways
- Risk profiling and benchmarking gives guidance to owners on their performance
- Structured, repeatable, transparent, and easily updated.
- Strategic guidance to owners and operators on tackling the root cause of expensive claims
- Quantified real-life case examples enable owners/operators to invest proportionately in risk management and loss prevention activity
- Detailed reports enable information to be shared across the fleet and operational departments enhancing co-operation and effectiveness
- Consistency in approach facilitates sustained and measured loss prevention activity over the longer term
- Assistance with PSC compliance speeding up that process and reducing the delay to ships and the burden on masters and crew during port calls
- Transparency of approach enables owners/operators to demonstrate good practice to customers, contractors, maritime agencies and other third parties.