Fire Claims

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Fire Claims The Cause & Cost An Insurers View Karl Lumbers London 13th March 2003: 

Fire Claims The Cause & Cost An Insurers View Karl Lumbers London 13th March 2003

Slide2: 

Source of Data Overview of large cargo claims Cause of large fire cargo claims Risk Profile

Data : 

Data Source Claims Files Criteria 100,000 usd Cargo Liabilities Period 15 years Sample size 68 No 59$m Value 2002

Slide4: 

Fire costs the industry over 20$m (Est) in large cargo claims a year

Cause of Large Cargo Claims : 

Cause of Large Cargo Claims

Cause of Large Cargo Claims: 

Cause of Large Cargo Claims 9th by No 2nd by Value

Large Fire Cargo Claims Average Claim Value: 

Large Fire Cargo Claims Average Claim Value

Type of Cargoes Involved: 

Type of Cargoes Involved

Large Fire Claims by Value: 

Large Fire Claims by Value 6 x 1$m +

Risk in Insurance Terms: 

Risk in Insurance Terms Risk = Frequency x Consequence Fire Risk = Low/Medium(4.5) x High (860,000usd)

What Causes Fire Claims: 

What Causes Fire Claims Software Failure or Hardware Failure

Slide12: 

“To err is human, indeed it is the cause of most of Our misery. Invariably though it is to the gods that we look for remedy” Livy

Slide13: 

“ Human Error is the cause of most of our misery and it is to the clubs that we look for reimbursement”

Software v Hardware Failure: 

Software v Hardware Failure

Human Failure: 

Human Failure High proportion of shore side input

Origin of Large Cargo Claim Fires (Where known): 

Origin of Large Cargo Claim Fires (Where known)

Slide17: 

One of our most common findings !!!! Daily Use Tank Glass replaced with plastic tube Deadman lashed in open position 2002

Slide18: 

Fuel Oil DB Tank - Sounding Pipe 2002

Slide19: 

Sophisticated Cabin Heating !!!! Note paper to protect deck 3/2003

Slide20: 

Plain Language !!!!! 2002 2002

Slide21: 

Before After Tragic Consquences - 3 Deaths 2001 2000

What Contributed to the Fire (Where known): 

What Contributed to the Fire (Where known) Fishmeal Tobacco Cotton Woodpulp Coal

What Type of Ship has Fires: 

What Type of Ship has Fires $m

What Type of Ship has Fires: 

What Type of Ship has Fires % number fire claims far exceeds % no cargo ships in Club

Is Age of Ship Relevant ?: 

Is Age of Ship Relevant ?

Age Band of Ships with Large Fire Claims: 

Age Band of Ships with Large Fire Claims % number of fire claims far exceed % Club entry For 15-19 yr age band

Size of Ships with Large Fire Claims: 

Size of Ships with Large Fire Claims

Size of Ships with Large Fire Claims: 

Size of Ships with Large Fire Claims % number of fire claims far exceeds % entry of 10,000gt - 30,000gt ships in Club

Slide29: 

10 out of 68 fires occurred in port 52 of the ships were tramping 17 ships were on Voyage Charter 35 ships were on Time Charter

Jurisdiction Top 7: 

Jurisdiction Top 7 9% 8 % 3% (3%) 3% % figures where fires occurred 3% 1%

Large Fire Caused Cargo Claims Trend: 

Large Fire Caused Cargo Claims Trend

Risk Profile: 

Risk Profile Dry Cargo ship 10,000gt - 30,000gt 15 – 19 years old Tramping Time Charter Spontaneous combustion/Discarded cigarettes Shore input

Slide33: 

What Can We Do ?

Slide34: 

Know your cargo Ensure a Good Cargo Watch is maintained Enforce No Smoking Practices