Pro-Active Risk Management
Using this experience in a more pro active way the Club has now modified its ship visit system to concentrate more on claims reduction rather than rule compliance as covered by many other inspection regimes.
By using the formulaRISK = FREQUENCY x CONSEQUENCE
and analysing 20 years of claims, the Club has identified thehazards
and thecontrolling factors
that would have prevented or lessened the effects of a claim.
Drawing on the experience of its claims executives and indepth claims analysis, the Club has defined 76 of these 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. We have worked to trial and develop a system to rate and record these risks, so that a more scientific approach to claims prevention/control can be taken. In time the system will show us trends and benchmarks which we will analyse and use to assist our Members to develop a more focused approach within their own safety systems to help manage their risks better.
Chart style examples (481 KB)
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The Brookes Bell Sharp End course is a highly esteemed and eagerly awaited trip for those in the shipping industry. With promises of exciting new knowledge, the chance to get up close and personal with a ship and of course some time to get to know your fellow attendees.
Insight Course- Asia
The Thomas Miller Hong Kong office held an “Insight” course on P&I and Defence cover on 29th & 30th September 2016 as a direct response to requests for member training. Delegates included members and brokers from Hong Kong, the Philippines and Korea and also a guest from Zambia, Daniella Smal, who is this year’s Young International Freight Forwarder of the Year, an award sponsored by the TT Club.