DUAL Europe’s Post

🌊🔍 The Importance of P&I (Protection and Indemnity) Ratemaking in the Maritime Industry 🔍🌊 In the dynamic world of maritime operations, effective risk management is key to ensuring safety, compliance, and sustainability. One critical aspect that often goes under the radar is P&I ratemaking. 🔹 What is P&I Ratemaking? P&I ratemaking involves the calculation of premiums that shipowners and operators pay for protection against third-party liabilities, including injury, cargo loss, and environmental pollution. It’s not just about numbers—it's a strategic process that reflects the complexities of maritime risk. 🔹 Why Does It Matter? Financial Stability: Accurate ratemaking ensures that P&I clubs maintain a healthy balance between underwriting profit and claims. This is essential for the long-term viability of the club and its members. Risk Management: With effective ratemaking, clubs can identify emerging risks in the maritime sector, allowing for proactive measures to mitigate them—ultimately enhancing safety at sea. Fairness and Transparency: A well-structured ratemaking process fosters fairness among members, as premiums are aligned with individual risk profiles and loss experience. Sustainability: As the industry pivots toward greener practices, P&I ratemaking needs to adapt, considering new risks associated with environmentally friendly technologies and practices. Global Trends: Understanding global trends is crucial; geopolitical shifts, regulatory changes, and climatic events all impact risk significantly. Ratemaking must evolve to reflect these realities. 📈 As stakeholders in the maritime industry, we must prioritize understanding and improving the P&I ratemaking process. By doing so, we’re not only enhancing our own operations but also contributing to a safer and more sustainable maritime environment. #MaritimeIndustry #PandI #RiskManagement #Insurance #MaritimeSafety #Sustainability

Mark your calendars for June 28! 📆⛳ ACEC Business Insurance Trust and The ACECH Kauai Liaison Committee present "Risk Management Best Practices: Practical Tools and Lessons Learned"! Join us for a breakfast workshop learning about risk management followed by a day out on the green at the Puakea Golf Course in Lihue, Kauai. More info regarding event details and registration to come soon. Check back here for updates or at the link in our bio! ##acechawaii #engineering #hawaiiengineers #engineers #hawaii

Many thanks for sharing. Regarding "types of risks", there are many different ways to slice and dice the risk universe. In the Banking sector, the categories were mainly: market, credit, operational, liquidity, reputational risk; in addition there is strategic risk, customer risk and ESG risk.... but the list goes on and on......

Programme highlight: Professional Risk and Professional Indemnity (PI) Insurance, led by Tanya Winstanley (Partner and Group Director, Professional Risks Division, Griffiths and Armour) Explore how a SME business can survive in an environment that seems to be increasingly litigious, especially after a period of unprecedented turmoil in the PI insurance market. This presentation will consider: • Lessons learned from the last few years • The risk landscape for Structural Engineers and what that means for individual firms • How effective risk management remains key to building resilience • What a robust PI Insurance solution looks like Secure your place today to protect and grow your #SME business, while connecting with leaders in the industry: https://lnkd.in/dyrFfm9r #StructuralEngineering #Innovation #Smallpractice #Conference #Sustainability #Environment #Construction

In Case you are Interested

I'm excited to share that I have successfully completed the "Management Training Program" organized jointly by the ASA Training Center and Turkey's TSEV (Turkish Insurance Institute Foundation). This certificate is a testament to my continuous effort to enhance my skills and knowledge in the field of risk management and insurance. A big thank you to the trainers and organizers for their invaluable support and guidance. Looking forward to applying the insights and skills gained to further contribute to our industry. #ProfessionalDevelopment #ManagementTraining #Insurance #ContinuousLearning

vrs Vering is attending the #AMRAE2024 from 7th to 9th February 2024, the French market annual risk management Congress entitled Pour l’amour du risque, come and see us at booth no 20! vrs Vering's core business is loss adjusting on behalf of Insurers, Brokers or Risk Managers. The organization includes four departments, specializing in Construction & Civil Engineering, Machinery Breakdown, Stock & Business Interruption and Liability. For over ten years, vrs Vering has developed its international activities and is actively involved as a founding and leading member of the vrs Adjusters’ Organization. The service offering includes loss adjusting abroad and in France on behalf of foreign clients and claims managers. vrs Vering is the French partner of vrs Adjusters, the global organization of loss adjusting companies specialized in corporate and commercial insurance claims, which operates in 140+ countries with over 300 offices and 2,500 staff. Since 2018, Tancrède Stagnara is the President of the organization. #insuranceindustry #welovetherisk #lossadjusting #lossadjuster

Assign Baseline, In this video, I have explained how to assign two schedules to the project updated, most of the times we require to compare several schedules especially in delay analysis. #planning #claimsmanagement #primavera #usa #disruption #delayanalysis #costmanagement #ahmedibrahim #engineeringservices

Minimising full lifecycle project and contract risk, while maximising profit can only be achieved through collaborative partnerships...We are so privileged to be developing a strong strategic relationship with Lockton to see people achieve this project and contract outcomes...

👀LOOK! Emerging risks and market response - Presentation and Panel Discussion The long-term outlook for the construction industry is positive, however the sector also faces a number of short-term and long-term challenges ranging from the prospect of recessions, geopolitical conflicts, supply chain strains and cost overruns, the need to meet decarbonisation targets, increased risks from climate change and managing an ongoing talent gap. With escalating risks, risk and insurance managers are faced with increased challenges to ensure that they have adequate insurance programmes in place and have openly called for more support from their insurance partners. This opening session of the Construction Risk Management Asia 2024 conference will explore the magnitude of these new risks and the challenges they represent. It will examine how risk managers need to prepare and innovate in order to identity, manage and mitigate their exposure to these new threats and it will explore the state of the insurance market and ask if new insurance models could be created through collaborative working to better align the interests of both the insurance and the construction industry. Join our expert panelists in Singapore on Thursday 17 October 2024 and be part of the conversation. ⭐️BOOK YOUR SPACE NOW and take advantage of the early-bird special offer! Entry is free for Risk Managers. BOOK HERE 👉https://ow.ly/8r4I50SzROw Aon CLP Cube Highways #ComRiskEvents24 #ConstructionRiskManagement