IUMI Podcast – Details, episodes & analysis

Lloyd’s Open Form is the most commonly used contract for international marine salvage. This important contract has recently been revised and re-published by Lloyd’s. In this podcast we are joined by Alistair Johnston from law firm CJC and Nick Coleman from Gard (Nick is also Chair of the IUMI Salvage Forum) to take a fresh look at the LOF and what the revision means for marine insurers and others.

In this podcast we are joined by Neil Roberts, Head of Marine and Aviation at Lloyd’s Market Association and Dave Matcham, Chief Executive of the International Underwriting Association who are joint hosts for this year’s IUMI Conference; and also by Lars Lange, IUMI Secretary General. We are treated to a preview of what to expect this year both in terms of the conference agenda and also the social programme. This podcast is a “must listen” for all those planning on going to Edinburgh later in the month.

In this podcast we are joined by Martti Simojoki from Alandia in Helsinki, who is also a member of IUMI’s Loss Prevention Committee; and Hendrike Kühl, IUMI’s Policy Director. Together, we debate the often mooted suggestion that a number of onboard fires have resulted from an electric vehicle and go on to discuss the difference between fires in electric vehicles and those started by standard internal combustion engine vehicles. We then turn to IUMI’s recently issued best practice and recommendations paper for the safe transport of EVs by sea. Finally, we take a look at how we think this issue will progress.  

In this podcast we chat with Dr Harry Conway, the Permanent Representative of Liberia’s Permanent Mission to the IMO and the Chair of IMO’s Marine Environment Protection Committee. At the last meeting of MEPC held in early July, the Committee agreed, unanimously, to adopt the new 2023 IMO Strategy on Reduction of GHG Emissions from Ships. This potentially ground-breaking strategy includes an enhanced common ambition to reach net-zero GHG emissions from international shipping close to 2050. It establishes two checkpoints on the path to 2050 including a 20% reduction by 2030 and a 70% reduction by 2040, both from a 2008 baseline.

In the podcast, Dr Conway explains the implications and practicalities of this brave new ambition and also outlines the work of the MEPC and what the committee will focus on going forward.  

The pandemic, Russia-Ukraine, cost of living, and China-Taiwan demonstrate the circularity of global threats and highlight the need for (re)insurers and their clients to have a better understanding of these crises’ impacts, especially considering the financial outcomes from such global events. Suki Basi, Managing Director at Russell Group and an IUMI Professional Partner, says financial outcomes relating to insurable and insured outcomes require better modelling, risk assessment and holistic analysis. 

Tune into our latest podcast and learn how horizon scanning, or environmental scanning, is a foresight method for discovering early signs of potential change. Suki uses an example of trade disruption in ports and how trade data can enable the analysis of the financial impact. Click here to listen:

In our latest podcast, Isabelle Therrien, IUMI Cargo Committee Chair and Senior Vice President Canada, Marine Cargo at  Falvey Insurance Group, discusses misdeclared goods and the related challenges facing shipping and the marine insurance industry. Isabelle emphasised the importance of increasing awareness and collaborating with all relevant stakeholders to ensure dangerous cargo is adequately declared and handled throughout the supply chain. An common example for DGs are lithium-ion batteries which will also be on the agenda of this year’s Cargo Workshop at the IUMI annual conference in Edinburgh.

On this special episode of the IUMI podcast, chair of IUMI’s Data & Digitalisation Forum, Patrizia Kern, interviews Osher Perry, founder and CEO of ShipIn Systems. ShipIn offers onboard CCTV solutions for vessels that allows shoreside personnel to get the visibility needed during critical operations. It is also an IUMI Professional Partner. Together, Patrizia and Osher discuss the digitisation of marine insurance, working with clients in an age of rapid digital expansion, accessing relevant data, implementing digitised business conduct, and much more.

Our popular quarterly newsletter IUMI Eye is now available as a podcast and features interviews with some authors. Highlights of this edition include Frédéric Denèfle, IUMI President & Managing Director at Garex, who discusses the challenges around reinsurance cover and the correlation with the Ukraine War. IUMI Secretary General Lars Lange reports on the latest IMO’s Marine Environment Protection and Maritime Safety Committee sessions; Sean Dalton, Vice-Chair of the IUMI Executive Committee & Executive Vice President, Head of Marine Underwriting, North America for Munich Reinsurance America, discusses the challenges marine insurers are facing in a time of increased inflation. Guillermo Zamora, CEO of Marlin Blue and an IUMI Professional Partner, offers guidance for adequately implementing and applying IMO liability and compensation conventions.

The Poseidon Principles for Marine Insurance (PPMI) are a global framework for assessing climate alignments of insurers’ hull and machinery portfolios. The PPMI use the ambitions of the International Maritime Organization’s (IMO) greenhouse gas emissions strategy and the Paris Agreement as benchmarks. The first annual disclosure report of the PPMI signatory companies has just been published. 

In this episode of the IUMI podcast we spoke with Pauline des Vallières, Sustainable Insurance Manager at SCOR where she has been part of the Marine division during the last five years. Pauline explains what the PPMI are, how they work, and why marine insurance companies have signed up to publicly disclose the carbon footprint of their H&M portfolios.