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TRANSCRIPT
IUMI – A perspective on current market changes
Lars Lange, IUMI Secretary General
Marine International Conference 2018,
Wed, 02nd May 2018, Roda Al Murooj Hotel, Dubai
Agenda
1. What is IUMI about?
2. IUMI is going east
3. EIA is becoming IUMI member!
4. IUMI‟s world marine insurance statistics
5. Current issues – what IUMI works on
6. Education is close to our heart
7. Connect to IUMI
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1. About IUMI
1. International Union of Marine Insurance (IUMI)
traces its roots back to 1874
2. Membership
• 41 national (marine) insurance associations
as members
• 19 Affiliate Members
• 21 IUMI Professional Partners
3. Represents property insurance – cargo, hull,
offshore energy, special lines
4. No brokers, no P&I
.
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At a glance
1. About IUMI
1. Lobbying
2. Services
• Education
• Statistics
3. Providing network in the industry and with other
maritime stakeholders
• Meetings
• Conferences
4. Representing the industry„s views and opinions
• Dialogue with other stakeholders
• Position Papers / Press Releases
.
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Core Tasks
„IUMI - at the forefront of marine risk“
1. About IUMI
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Organization
1. About IUMI
1. International Maritime Organization – IMO
• Special IUMI IMO Liaison Officer in London
• Status as NGO
2. European Union
• Cooperation with Insurance Europe
• Close contacts esp. to DG Move
• The work is topic-driven
3. Other authorities
.
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Lobbying
1. About IUMI
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Close relation to other maritime / transportation stakeholders
Agenda
1. What is IUMI about?
2. IUMI is going east
3. EIA is becoming IUMI member!
4. IUMI‟s world marine insurance statistics
5. Current issues – what IUMI works on
6. Education is close to our heart
7. Connect to IUMI
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2. IUMI goes east
• … Asian countries' market share rises ⇒ 27.1%
(2015) to 27,9% (2016)
• IUMI Asia strategy
• increase number of Asian member
associations
• intensify cooperation with existing Asian
member associations
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… IUMI Asian Hub
2. IUMI goes east
IUMI sees the Asian development as mandate for
its own work
• Clear IUMI focus on Asia
• Opening of the „IUMI Asia Hub“ in cooperation
with HKFI in Oct 2016 in Hong Kong
• Annual local conferences - “Asia Forum” -
established, first Apr 2018 in Singapore
Targets:
• Enhanced lobbying focus
• Deepened relation to local markets
• Closer contact to political stakeholders in Asia
• Better awareness and understanding of Asian
topics
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Agenda
1. What is IUMI about?
2. IUMI is going east
3. EIA is becoming IUMI member!
4. IUMI‟s world marine insurance statistics
5. Current issues – what IUMI works on
6. Education is close to our heart
7. Connect to IUMI
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3. EIA is becoming IUMI member!
• The Emirates Insurance Association applied in
April 2018 officially for IUMI membership
• The IUMI Council will approve the application in
ist next meeting in September 2018
• EIA„s IUMI membership will go along with a
number of advantages
• Granted IUMI Council member from EIA
• Eligibility to IUMI Technical Committees and
Executive Committee
• Access to IUMI conferences and meetings
• Access to IUMI statistics and database
• Access to IUMI education programme
• Benefit from IUMI„s lobbying activities
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Agenda
1. What is IUMI about?
2. IUMI is going east
3. EIA is becoming IUMI member!
4. IUMI’s world marine insurance statistics
5. Current issues – what IUMI works on
6. Education is close to our heart
7. Connect to IUMI
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Agenda
1. What is IUMI about?
2. IUMI is going east
3. EIA is becoming IUMI member!
4. IUMI‟s world marine insurance statistics
5. Current issues – what IUMI works on
6. Education is close to our heart
7. Connect to IUMI
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5. Current Issues
1. Political Forum steers and coordinates with
Executive Committee and Technical
Committees
2. Limited number of „current issues“ decided by
EC and published on homepage
3. Examples:
• Cyber Risks
• Fire on container / roro vessels
.
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5. Current Issues
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IUMI „Current Issue List“ on www.iumi.com
5. Current Issues
• «Maersk Honam», Tue, 06 March 2018 as last of
many examples
• «Hanjin Pennsylvania» 2002, «Hyundai Fortune»
2006, «MSC Flaminia» 2012
«... but its thousands of container vessels out
there???»
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Fires on container vessels
5. Current Issues
• IMO saw the problem and amended SOLAS
Chapter II-2 in 2014
• Applying for newbuilds on or after 01 Jan 2016
• Step in the right direction, but not enough
• Fire detection in the holds is problematic
• Effectiveness of CO2 systems in the hatches is
doubtful
• Crew needs an adequate protection, equipment
and training
• Misdeclared Cargo plays an important role
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Fires on container vessels
5. Current Issues
... But how to solve?
• Are insurers the ones to propose technical
solutions?
• Is it too early to put this on the agenda again?
• Do we have to consider the existing fleet?
IUMI refers to best practices like the ABS
Guide for Fire Fighting Systems
IUMI recommends further joint activities of all
stakeholders
IUMI Position Paper on firefighting on container
vessels published on 19 Sep 2017
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Fires on container vessels
5. Current Issues
• Marine insurance covers against the «Perils of
the sea»
• Cl 380?
• “buy-back clauses”?
• Silent coverage?
• Systemic risk? NotPetya as an example –
estimated costs of 250-300 bn. USD alone
for Maersk
• ... and it‟s a moving target
• Digitalization is ongoing
• More automated shipping
• Smart port logistics, intelligent containers,
blockchain technology, IoT, internet based
placing platforms
.
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Cyber risks and marine insurance
5. Current Issues
• Guidelines published in July 2017 (2nd edition)
• IUMI is co-author, insurance chapter is added
• Very concrete guidance for the crew:
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Cyber - What do ship-owners do?
5. Current Issues
Numerous classification societies working on it
individually - DNV.GL, ABS etc.
IACS:
• Founded “Cyber Panel” in Dec 2015
• Founded “JWG on Cyber Systems” in Nov 2016
• Industry representatives included
• Flag states included (including IMO WG chair)
• Intended output: 11 recommendations; Unified
Requirements (UR) and / or Unified
Interpretations (UI) are further down the line
IUMI: supports and is member of the IACS JWG
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Cyber - Are classification societies aware?
5. Current Issues
• Maritime Safety Committee (MSC) 96 in May
2016: Interim Guidelines on Maritime Cyber
Risk Management (MSC.1/Circ.1526)
• MSC 98 in June 2017:
• cyber risk management onboard ships
should become part of the ISM Code and
form part of the ship‟s mandatory Safety
Management System by 2021 – audits!
• Interim Guideline transferred to permanent
Guideline
• IMO best place to deal with cyber?
• IUMI welcomes IMO‟s framework and prefers
industry solutions for detail – e.g. “BIMCO
Guideline”
.
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Cyber - What is IMO„s approach?
Image: used under license from shutterstock.com
5. … a few others to mention
• Liquefaction
Work on the IMSBC Code
• Low-sulphur fuels – Cat Fines
Limit the ppm, sample the fuel
• Places of Refuge
Transfer EU guideline to international
level
• Autonomous / unmanned transports
Adapt regulation where necessary
.
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Image: used under license from shutterstock.com
Agenda
1. What is IUMI about?
2. IUMI is going east
3. EIA is becoming IUMI member!
4. IUMI‟s world marine insurance statistics
5. Current issues – what IUMI works on
6. Education is close to our heart
7. Connect to IUMI
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6. IUMI Education Programme
• IUMI is developing an education programme for
the global marine insurance industry
• War on talents
• Insurance industry competing with finance,
consultancy and high-tech industries
• Strong demand from IUMI members
• IUMI will promote attractiveness of marine
insurance !
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6. IUMI Education Programme
• Member associations„ education programmes
• „IUMI database“
• Webinars
• Tutorials
• Cargo Tutorials to come in June 2018
• HullTutorials to come in December 2018
• In-class instructions (to come in 2019/20)
• … steered by IUMI Education Forum
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Agenda
1. What is IUMI about?
2. IUMI is going east
3. EIA is becoming IUMI member!
4. IUMI‟s world marine insurance statistics
5. Current issues – what IUMI works on
6. Education is close to our heart
7. Connect to IUMI
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7. Connect to IUMI
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IUMI „Current Issue List“
7. Connect to IUMI
• Quarterly newsletter
• Mail, pdf or www.iumi.com
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IUMI Eye
7. Connect to IUMI
• www.iumi.com
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Homepage
7. Connect to IUMI
• IUMI Asia Forum
Singapore, 24/25 April 2018
www.iumi.com
• IUMI Conference 2018
Cape Town / ZA, 16-19 September 2018
www.iumi2018.com
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Conferences
That„s it! Lars Lange
Secretary General
International Union of Marine Insurance e.V.
Große Elbstraße 36
D-22767 Hamburg