Something for the Weekend Sir? – An Insurance Survival Guide for Bankers

By Peter Mellet, Managing Director, BankServe Insurance Services Ltd.

The shipping market is going to produce a variety of tests over the coming weeks and months for bankers. These will come in many forms including plummeting values, third party creditor arrests, payment defaults and not least insurance issues. An owner’s insurances are in many ways a good health check and a quick way of gauging the current financial position of the borrower. Looking at the underwriting security used can be thought of as taking blood pressure, size of deductibles as temperature and heart rate the state of premium payment. The borrowers P&I club is like taking a blood sample for examination – are they charging unbudgeted supplementary calls? (more than just a blood sample!!) as is the case with

This is only an excerpt of Something for the Weekend Sir? – An Insurance Survival Guide for Bankers

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.