The Institute of Seatransport will conduct an Industrial Session, focusing on the professional expertise on marine insurance practice, and the role of Hong Kong as an international maritime centre under OBOR.
Mr. Raymond T C Wong, Chairman of the Institute, and Principal of Asia Maritime Adjusting (Hong Kong), will take lead with support of Mr. C H Wong and guest moderators (maritime claims practitioners) to present a 2-hour interactive workshop on PRACTICAL ASPECTS OF MARINE INSURANCE – From Casualty to Collection of Claims, examining a) General and Particular Average on Ship (arising from loss of steering control whilst the vessel was proceeding with cargo in containers) and b) Constructive Total Loss of Vessel (arising from a collision at sea resulting in the vessel voluntarily beaching with cargo on board).
Various issues arising from the casualties where the vessel is insured on Hull & Machinery and Increased Value subject to Institute Time Clauses will also be discussed, including:
- General Average – Identifying GA; decision to declare GA; port of Refuge Expenses; substituted Expenses; insurance on Average Disbursements; provision of security and demand of security; place of Adjustment; applying claim to policies of insurances; Cargo’s refusal to contribute
- Particular Average – Cause of damage and onus of proof; due diligence proviso; when did the damage occur – which Policy pays; how many accidents and deductibles are involved; what can be claimed – method of repairs and reasonable cost of repairs
- Constructive Total Loss – Options open to the Assured; Notice of Abandonment; onus of proof on the Assured; what goes in to calculating CTL on figures; Sue & Labour Charges in addition to CTL
Mr. C H Wong, Member of the Institute, and Director of Five Oceans Maritime Ltd. will then present on THE ROLE OF Hong Kong AS AN INTERNATIONAL MARITIME CENTRE UNDER OBOR which will examine Hong Kong’s position as an International Ship Finance Centre (ISFC) and International Logistics Hub (ILH).