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• The Crew: Is the crew skilled and unidenti? ed exposure or validate that ports. And workboats are often right knowledgeable? Do crew members your current procedures are sound. on the front lines of it all. To protect have the right paperwork? Do you Maritime risks are growing ever your interests, partner with commit- provide proper training and more complex. Bigger vessels are mov- ted marine insurers and brokers to incentivize your crew for ing larger volumes of cargo moving make the insurance buying process promoting a Safety Culture? around the globe into much busier more ef? cient and easier to navigate. • Operations: What kind of services/ operations does the ? eet provide? Do you have an Operations Director or Risk Manager?

• Navigation area: What risks are posed by the workboat’s working environment? Are they working the coasts or just the inland rivers? Do you know that some jurisdictions in which you operate are more litigious than others?

• Value: Is the valuation correct on your vessels? What upkeep procedures are in place to ensure that operating equipment ? ts the job? Are your Condition & Valuations up to date?

• Risk Management Response: What are a ? eet’s claims trends and frequencies? When something happens, how well does the owner/ operator get to the root cause of the loss? How does the company respond to these causes? What’s done to make a correction or take a precaution?

Other things to consider when building an insurance program that works right for a workboat ? eet is risk retention. Challenge underwriters to propose deductible options. Strong consideration is often given to those insureds who want to have “skin in the game.” Especially as insurance rates begin to change direction, more maritime companies may be looking to retain more risk to balance poten- tially increasing rates.

Also, determine what loss preven- tion services the insurance carrier will provide. Often these are provided at no additional cost. They can reveal an www.marinelink.com MN 35

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