Underwriters regularly face significant claims following a shipping casualty with the major components being payments for Salvage and General Average (GA).

In the last 5 years LOF awards totalled almost a quarter of a billion US Dollars and the reality is that insurers have paid out far more, since 80% of LOF claims are settled privately. Add in a GA claim, the emergence of mega container ships, and it is easy to understand why a shipping casualty has the potential to wreak havoc on an underwriters’ balance sheet.

Our experience enables us to provide clients with clarity as to their liability for salvage and GA, enabling accurate reserve estimates. We also place a genuine emphasis on reducing clients’ exposure to Salvage and GA claims by early resolution of the same, using open offers where appropriate.

From arranging and negotiating security, conducting expert-led investigations to establish the dangers facing the ship and forensically examining the Salvage and GA claim, we do all that is required to reduce the impact a shipping casualty has on your bottom line.

Roose+Partners – reassuringly marine.