Hull insurers are faced with an evolving risk landscape which is both complex and challenging. The IMO’s low sulphur initiative will likely see more claims arise from engine damage one way or another and the Ocean Hull Committee feels that refineries should be producing immediately usable compliant fuel rather than transferring the risks of filtration to owners and their insurers. It is disappointing that national legislation has not been enacted to progress improved refined products as it would undoubtedly help both the environment and the supply chain.
Comprising expert underwriters from all global markets, one of the primary roles of the Ocean Hull Committee is to identify and highlight risk trends and issues that affect hull and associated marine underwriters. The Committee will continue to raise awareness of these issues wherever possible as well as seeking the best speakers for the hull session at the annual conference.