How Insurance Deals with the Confusing Bits

"Tales from the Cutting Edge"

Author:  Rik van Hemmen

Published:  October 2007

Presented at the Annual Meeting of The Association of Average Adjusters of the United States, New York, NY

 

M&O occasionally comments on insurance/marine surveying issues at the Average Adjusters Annual Meetings.  In 2007, M&O was asked to comment on how unexpected technical issues are dealt with in marine insurance.

 

This presentation shows how over the years the marine insurance system has dealt with unexpected technical issues and, as a whole, has survived and supported vessel owners and builders when they needed support the most.

 

The presentation then investigates whether it is the marine insurance contract that provides this service or whether it is something else that provides this system dynamic and comes to an interesting conclusion about contracts that applies all across the commercial world.

 

Contract situations

 

To download the full paper click this link:  Tales from the Cutting Edge

 

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