Risk Management

Maritime technical risk management - Casualty response, controlling risk and knowledge sharing

Skuld’s Maritime Risk Management department is part of and supports Skuld’s Casualty Response team in dealing with the crucial stages of a casualty. The controlling of risk as new vessels are entered in the club also resides with Risk Management.

The department assists claims handlers and members with maritime technical, nautical and cargo matters and is an important contributor to Skuld’s knowledge sharing and will provide information regarding cargo, maritime technical and nautical issues which will be of benefit to our members in preventing claims before they happen.

Skuld’s Maritime Risk Management department consists of four master mariners and a survey co-ordinator.

CASUALTY RESPONSE

Skuld’s casualty response organisation allows us to maintain maximum flexibility and at the same time transfer and capitalise on crucial casualty response capability within the Club. Skuld’s Risk management department has experienced staff who are on stand by and travels anywhere on short notice in order to assist members with the handling of a casualty.

CONTROLLING RISK

Skuld has adopted three main methods for controlling risk on vessels entered in the club in order to make sure the vessels meet our required standards:

1. SURVEYS
including Survey forms.

2. MANAGEMENT REVIEWS
Management reviews serve as an additional input to underwriters’ risk assessment prior to giving a quote to a potential new member. The management review assesses the efficiency of the Safety Management System and covers important areas like crewing and technical departments. A management review may also be carried out if a Skuld syndicate considers there is significant change in the initially agreed risk related to a specific member’s performance.

3. MONITORING OF PORT STATE CONTROL DETENTIONS
AND BANNED VESSELS

Port State Control detention lists
The monthly checking of the Port State Control detention lists covers a large number of entered vessels. The lists are published by the world’s three major inspection regimes - the Paris MOU, the Tokyo MOU and the US Coast Guard. If a Skuld vessel is flagged, we examine for instance the grounds for detention, the vessel’s class and flag state, its manager’s detention ratio, and Skuld’s loss record for the vessel/member.

Banned vessels
The Black List issued by the European Maritime Safety Agency (EMSA) and Paris MOU’s Banned Vessels are monitored in a similar way to the Port State Control lists. Skuld will start an immediate dialogue with the member as soon as an entered vessel is recorded.