Are you protecting your Marine Professionals?

De: Enrique Lozano Lozano_Enrique@itf.org.uk
Enviado el: Martes, 28 de Noviembre de 2006 05:19:12 p.m.
Para: marinos_mercantes@hotmail.com
Asunto: Fwd: Are you protecting your Marine Professionals? - PressRelease


PRESS RELEASE
There is much debate these days surrounding the criminalisation of seafarers. This is a sad reflection of the difficult times that shipboard personnel today work in, and the prevalence of “jail time for dubious maritime crime” is worryingly on the rise.

Often, it is seen that many crews and company representatives are taken as collateral to ensure increased security, or to prompt rapid settlements.

Much of the past focus has been on protecting and freeing crews, ships and cargoes, but it seems, according specialist marine insurance brokers, Seacurus Ltd., that one important area has been overlooked – that is cover for marine professionals working with, but not necessarily on ships.

Marine professionals (whether individuals or groups) are frequently instructed to represent their company and/or client’s interests in increasingly difficult jurisdictions. Incidences of violent crime, extortion and commercially or politically motivated detention are real risks faced by the modern day marine professional.

It may come as a surprise, but many marine lawyers, surveyors, engineers, loss adjusters, naval architects, consultants, contractors, or marine superintendents often do not have effective insurance in place to protect them in the event of being taken hostage.

To counter this problem, Seacurus has extended their policy range to encompass “ProSEACURE”.

ProSEACURE provides marine professionals with the peace of mind that the best interests of the company and their partners, consultants or employees are protected from the adverse consequences of such attacks. Marine professionals need protection, and they need proper insurance cover, which is fit for the purpose.

According to Seacurus Managing Director, Captain Thomas Brown, “Too often companies are quick to send their personnel off on case, or consultancy work without adequately securing their best interests. This needs to change”.

He added, “ProSEACURE is one way to provide direct access to a well-drilled emergency response and network of professional negotiators. Having personnel detained, whether though kidnap or detention under duress, governmental or otherwise can prove to be very costly, ProSEACURE ensures that case related costs and expenses to release covered persons are met by the insurer subject to policy limits”.

Hostage takings are frightening and dangerous however they may arise – every company and every professional should know that they have taken the right steps to protect themselves, wherever they are working.

The safe release of personnel does not happen by accident – it needs a formal and professional response to be initiated. Do not leave your people’s safety and security to chance – get ProSEACURE cover today.

For more information go to www.seacurus.com/insurance_solutions.asp#proseacure

Notes:
Seacurus Limited is a UK-based insurance intermediary, specialising in marine professional protection and credit risk insurances for the marine industry.

Seacurus are working with shipowners and their representative organisations, seafarers and their representative organisations, regulatory bodies, flag state administrations and the wider insurance industry to ensure that the very best insurance solutions can meet the very serious challenges that face shipowners and their employees today.

Seacurus is authorised and regulated by the Financial Services Authority as an insurance intermediary

For further information please contact:

Capt. Thomas Brown
Managing Director
Seacurus Limited
Tel: +44 191 4690859
Fax: +44 191 4697940
Email: tbrown@seacurus.com
Website: www.seacurus.com


The Marine Professionals’ Detention and Kidnap for Ransom Insurance

By marine professional we mean an individual or group of marine lawyers, surveyors, engineers, loss adjusters, naval architects, consultants, contractors, or marine superintendents working globally for marine clients in a variety of overseas jurisdictions.

Why do you need ProSEACURE?

The marine professional is frequently instructed to represent their company and/or client’s interests in ever increasingly difficult jurisdictions. Incidence of violent crime, extortion and commercially or politically motivated detention are real risks faced by the modern day marine professional. ProSEACURE provides the insured with the peace of mind that the best
interests of the company and their partners, consultants or employees are protected from the adverse consequences of such attacks.

The benefits are two fold:
Firstly, the cover provides the insured with direct access to a well drilled emergency response protocol and network of professional negotiators to guide the insured safely through difficult and stressful insured events, the costs of which are unlimited under the terms of the policy.

Secondly, insured events can prove to be very costly, ProSEACURE ensures that case related costs and expenses are met by the insurer subject to policy limits.


What does ProSEACURE cover?

Subject to policy limits the following costs and expenses are covered by ProSEACURE:

• Ransom including any interest payments
• Loss of Ransom in transit
• Response consultants fees and expenses
• Rest and rehabilitation expenses
• Legal costs
• PR and interpreter costs
• Cost of travel and accommodation for covered persons
• Any reward that is made to assist with the resolution of the incident
• Salary replacement costs for the insured person and their replacement plus the costs of management time incurred by the insured to resolve the incident.
• Communication costs
• Rest and rehabilitation costs
• Costs of cosmetic and plastic surgery
• Personal Accident

Seacurus Limited is a specialist marine insurance broker with considerable expertise
in all aspects of ship management and marine insurance. Seacurus is authorised and
regulated by the Financial Services Authority, as an insurance intermediary.

Cooper Gay and Company Limited has secured the support of Lloyds underwriters
for this new product. Cooper Gay is one of the largest privately owned Insurance and
Reinsurance Broking Groups based in the City of London. Cooper Gay’s insurance
expertise complements that of Seacurus.



What does ProSEACURE cover?

ProSEACURE will indemnify the consequential losses that arise as a direct result of illegal threats or actions taken by an aggressor, (private of governmental) to extort monies from the insured company of marine professionals.

What is meant by Marine Professional?

By marine professional we mean an individual or group of marine lawyers, surveyors, engineers, loss adjusters, naval architects, consultants, contractors, or marine superintendents working globally for marine clients in a variety of overseas jurisdictions.

What type of policy is ProSEACURE?

ProSEACURE is a term value policy. The usual term of the policy is one year. The value of the maximum policy indemnification can be varied for different heads of claim to suit the premium cost and risk appetite requirements of the insured.

Does ProSEACURE offer world wide coverage?

The coverage can be offered on a world wide basis or tailored to accommodate predetermined geographical areas.

What illegal acts does the policy cover?

ProSEACURE covers all illegal acts or threats made by an aggressor (private or governmental) against the insured covered persons and/or their assets (corporate or personal) regardless of the motive of the attack. Acts of illegal detention, kidnap, extortion and hijack resulting in a financial loss to the insured are covered.

Why buy the cover?

The marine professional is frequently instructed to represent their client’s interests in ever increasingly difficult jurisdictions. Incidence of violent crime, extortion and commercially or politically motivated detention are real risks faced by the modern day marine professional. ProSEACURE provides the insured with the peace of mind that the best interests of the company and their partners/consultants are protected from the adverse consequences of such attacks.

What are the benefits of the policy?

The benefits are two fold:
Firstly, the cover provides the insured with direct access to a well drilled emergency response protocol and network of professional negotiators to guide the insured safely through difficult and stressful insured events, the costs of which are unlimited under the terms of the policy.

Secondly, insured events can prove to be very costly, ProSEACURE ensures that case related costs and expenses are met by the insurer subject to policy limits.

What case related costs will be indemnified under the policy?

• Ransom including any interest payments
• Loss of Ransom in transit
• Response consultants fees and expenses
• Rest and rehabilitation expenses
• Legal costs
• PR and interpreter costs

PROSEACURE: Frequently Asked Questions

• Cost of travel and accommodation for covered persons
• Any reward that is made to assist with the resolution of the incident
• Salary replacement costs for the insured person and their replacement plus the costs
of management time incurred by the insured to resolve the incident.
• Communication costs
• Rest and rehabilitation costs
• Costs of cosmetic and plastic surgery
• Personal Accident

What triggers the policy?

Detention - triggered by the holding of a covered person under duress
Kidnap - triggered by ransom demand
Extortion - triggered by ransom demand
Hijack - triggered by the holding of a covered person under duress

Who provides the response?

Underwriters have priority access to Kroll to immediately respond to incidents covered under the policy.

When does the policy pay?

Unlimited response costs are paid directly by the underwriters whilst the insured will be indemnified for the additional case related costs and expenses post incident.

Is there any overlap with other insurances?

The wide ranging coverage afforded by ProSEACURE is not provided by any other single policy of insurance. However, elements of the personal accident and injury coverage under the policy may be covered elsewhere in corporate travel/medical policies.

ProSEACURE would not pick up these costs to the extent that they are covered elsewhere.
Is there a deductible?

There is no deductible.

What are the limits?

Limits can be selected to match an insured’s risk appetite and premium spend. Limits can vary between $1 - $25 million per loss.

The limits under the policy are as follows:

• Ransom
• Loss of Ransom in transit
• Additional Expense plus sub-limit for rest and rehabilitation
• Legal Costs
• Personal Accident – capital sum insured

How many persons can be covered under the policy?

The policy can be tailored to accommodate a single marine professional or provide group coverage.

What are the advantages of group coverage?

By insuring a group of marine professionals under the same policy and limiting the number of claims in the aggregate during the term of the policy it is possible to obtain effective risk transfer for and a meaningful reduction in the per person premium cost.

What are the conditions?

It is a principal condition of the policy that the knowledge of the existence of the policy is restricted at all times. It is also a condition precedent of the policy that the insured shall communicate with underwriters and response consultants at all times following an event. All other general conditions can be reviewed when disclosing the policy terms to the prospective insured.

What are the exclusions?

The surrender of ransom without prior the approval of the underwriters are excluded. All other general exclusions can be reviewed when disclosing the policy terms to the prospective insured.

What is a typical loss scenario?

If we take the Tasman Spirit case as an example, in a similar fictional incident a marine surveyor may be instructed by vessel owners to attend the casualty to collect evidence in anticipation of claims on their policy of hull and machinery insurance.

In the course of the his investigations the surveyor may be wrongly mistaken by the local authorities as being the owner’s representative and detained as part of an elaborate scheme to extort exaggerated levels of security from owners. In such circumstances what would be covered?

• unlimited response costs
• 100% of a detained Covered Person’s gross salary including bonuses during the event and for 60 consecutive
days following the release, limited to a period of 60 consecutive calendar months;
• 100% of the gross salary for a replacement of a detained Covered Person, during the period of detention and for 30 consecutive days following the release, limited to a period of 60 consecutive calendar months;
• the costs incurred by the insured for the salaries of employees specifically designated to assist in negotiating on an insured event.

What does it cost and how is the premium calculated?

The premium is risk specific and depends upon the required level of indemnification. The premium is calculated on the basis of the underwriter’s analysis of the following criteria:

Based on an analysis of this information it is possible for underwriters to provide a non-binding pricing indication. Discounts may be available on group quotes dependant upon the required risk transfer.

When is the premium payable?

The premium is payable prior to the inception date of the policy.

Who is the insurer?

The risk is insured by certain Lloyds of London underwriters who are rated S&P A+ and are a market leader in marine and non-marine detention and kidnap for ransom insurance.

Who provides claims support?

Cooper Gay and Company Limited provide the requisite access to certain underwriters at Lloyd's to facilitate the fulfillment of this product. All insurance related documentation, collection of premium and indemnification of claim payments will be facilitated by Cooper Gay and Company Limited. Cooper Gay and Company Limited is one on the largest privately owned
Insurance and Reinsurance booking groups based in the City of London.