For any company in its ordinary operations routine the emergency response planning, although being an important part of operation management, is still not a matter of first priority. It is obvious because casualties happen not often; they are “accidental”, whilst the day by day economic actions of the company are commercially viable. But nevertheless the better measures of average/emergency response have been put worked out, the better staff is trained to act promptly and adequately to a situation, the less damage or loss will be incurred by the business due to the accident. In full measures it concerns shipping.
Insurer is not able to prevent losses, it only can give advice or participate in preventive measures of the Assured. Its mission to compensate accidental losses caused by fortuitous events.
If and when a loss occurred give rise to a claim the service of the Insurer will include:
- recommendations or assistance for minimizing of the loss quantum
- protection of the Assured interests against claims from third parties for damages
- arrangements for security to avoid or release the Vessel from detention or arrest
- provision of security for GA contribution for the cargo interests
- co-ordination with salvours, port authorities, fire brigades, surveyors, GA and PA adjusters etc.
- fair settlement of all items of claims less policy deductibles