The world does not stand still, and technological developments are moving at an accelerated pace. Increase in productivity, lower operational costs, change of laws and regulations, (semi) autonomous sailing, Internet of Things (IoT), the use of lithium-ion batteries, sustainability, but also climatic changes, have all had an impact or will have an impact on our underwriting results, policy and capacity in our market(s).
The Inland Hull, Fishing Vessels and Yachts Committee (IFY) is committed to informing insurers of this continuous stream of changes, either through the IUMI Eye newsletter or by organising interesting workshops during IUMI’s annual conference and Asia Forum. By taking a proactive stance and being open to changes and developments in these markets, one creates a basis that can serve as a foundation for a sustainable and future-proof insurance portfolio.
In the light of this and thinking about the upcoming theme in Stockholm “’Navigating Changing Climate, delivering expertise to shape the future” the Committee came up with the following topics which will certainly ensure some very interesting presentations and discussions:
Tore Høisæther, Fender Marine AS, and member of the IFY Committee, NO-Bergen and Halvard Hauso, Chief Commercial Officer, Corvus Energy, NO-Bergen will be presenting on:
“The use of Lithium batteries in a marine environment”
All of us are familiar with lithium batteries from smart phones and other wireless household products. Now, on a larger scale, these batteries are being used in boats and large ships both for propulsion and for onboard equipment such as cranes, winches and thrusters. Some vessels are 100% electrified and some have hybrid solutions. This presentation will give some predictions on what vessel types are most likely to be 100% electric in the near future and how a hybrid system may improve safety. Is it safe and what are the experiences so far? Hopefully all these questions will be answered during the presentation.
Margaret Zaccaria from Satec Group and member of the IFY Committee, and Filippo Pellerano, lawyer at Studio Legale Mordiglia will be presenting on:
“Liability issues regarding the use of drydocks. An illuminating story! “
In this presentation you will learn about the liabilities to which the insured can be exposed to when using drydocks. The use of third parties’ facilities, the technical nature of a drydock operation, the interactions between the different players involved in the operation, each having a specific task and responsibility together with the high values at stake may give rise to potential risks, liabilities and claims. Eventually, in the worst-case scenario of an accident this may also end up in a salvage or wreck removal operation and, accordingly, to an additional challenge for the insured and the underwriters.
Rick Salway, GAIG USA, and member of the IFY Committee will be presenting on:
“Struck by lightning, no pleasure at all for a yacht owner and the underwriting market!”
Being struck by lightning and winning the lottery, what are the chances? In the case of lightning it is increasing and for yacht underwriters, it is quite the opposite of winning the lottery. A story and facts about the economics facing the landscape of the yachting market. It has all to do with the changing climate and new technology.
Overall the IFY workshop looks set to be a high quality and interactive session that should not be missed. It will be taking place on Friday 18th of September from 0900-1100 (CEST), and again in the afternoon from 1500 till 1700 (CEST).
To register and for further information please visit – www.iumi2020.com.
