Page 62: of Maritime Logistics Professional Magazine (Q1 2013)

Other key Þ ndings of the report: Human error remains a root cause of most incidents. Fatigue, economic pressures, and inadequate training are causes for concern. New regulations focus on the problem of human error. The Maritime Labor Convention (2006) will help improve safety by addressing the welfare and working conditions of seafarers. Major shipping companies have initiated self-regulation initiatives post-Costa Concordia, with the Cruise Lines International Association and the European Cruise Council partnering to lead industry-wide voluntary adoption of policies that go beyond international regulations. Eventually, self-regulation of t he industry may become the core driver of safety. Technological improvements such as the introduction of mandatory Electronic Chart Display and Information Systems (ECDIS) in July 2012 are expected to reduce accidents, but only where properly ap- plied with effective training and management oversight. Allianz Global Corporate & Specialty (AGCS) is one of the world?s leading marine insurers, offering insurance cover for all types of modern shipping. AGCS also offers cargo insurance, covering physical loss or damage to international and domestic goods in transit. In 2011, AGCS?s marine business generated over ?940 million in insurance premiums. AGCS consists of various legal companies operating under the Allianz Global Corporate & Specialty brand. Read the full report at http://www.agcs.allianz.com/ about-us/news/agcs-safety-and-shipping-review-2013/STATISTICS 62 | Maritime Professional | 1Q 2013MP #4 50-63.indd 62MP #4 50-63.indd 622/25/2013 9:42:47 AM2/25/2013 9:42:47 AM