Insurance Industry Is Poised To Handle Risk of Marine Casualty

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Asia Insurance Review caught up with The Standard Club director of claims Sam Kendall-Marsden at the 3rd Asian Marine Casualty Forum (AMCF) held earlier this month in Singapore, says a press release published on their website.

Collaboration across industries

In his interview, Mr. Kendall-Marsden discussed how P&I clubs collaborate broadly across industry issues work together to counter the risk of maritime casualties. He also shared his outlook on the issue of marine casualty in the coming years.

With the club being one of the 13 international group protection and indemnity (P&I) clubs, Mr. Kendall-Marsden also represents the club on the international group’s maritime security, salvage, Federal Maritime Commission, amicus briefs and pool claim notifications subcommittees as well as piracy and large casualty working groups.

Casualties caused by large ships

Mr. Kendall-Marsden spoke at both the forum’s opening presentation and a panel discussion where he highlighted how casualties involving large container ships could lead to a major environmental disaster and consequently a significant financial exposure. He also discussed the steps that have been taken to tackle this particular risk and proposed various solutions for better risk management.

Asian Marine Casualty Forum

The AMCF was attended by over 500 representatives from the maritime and insurance industries worldwide on 11 and 12 April 2019 at the Marina Bay Sands Singapore. Organized biennially by marine and engineering consultancy LOC since 2015, a forum is a non-profit event during the Singapore Maritime Week and its theme for this year was ”Marine casualties in the 21st century – is the industry coping?

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Source: TheStandardClub

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