Cd.29 Hull and Machinery
What is a hull surveyor?
A representative of the Hull insurers.
When should you notify the insurance company?
When you have an incident, which may form a claim under the policy
When is it likely that you will not carry a partial blame for a collision?
When safely moored alongside a jetty or wharf (or when not under command).
How should you react if your vessel has touched bottom?
Notify head office and Insurance Company
What does H&M mean?
Hull & Machinery insurance.
What is an adjuster?
A person who collect and arrange all documentation related to the claim and allow cost and expense to the insured in accordance with policy terms and conditions.
What does P&I mean?
Protection & Indemnity
Why do you need to document the repair cost?
To demonstrate your loss.
When should LOF be signed?
When the vessel is in immediate danger of major damage or loss.
What is a deductible?
An agreed amount borne by the insured.
What does LOF mean?
Lloyds Open Form
What does Hull insurance cover?
Loss of or damage to a vessel.
When do we need a repair specification?
When inviting quotations from various repairers.
What is an insurance settlement?
Recoverable amount allowed under the vessels insurance policy for loss or damage covered.
What does P&I cover?
Ship owner's liability for damage to cargo, crew or 3rd party's property.
How can you advise your Hull insurer about a minor casualty in a foreign port?
Notify the insurers local agent.