Insurance and Claims Department provides professional services related to Marine insurance market research, placement of Hull & Machinery and P&I risks and creating effective insurance and claim handling solutions.
The Department supervised by a Department Manager is directly subordinated to the Executive Directors.
There are two sectors established within the Department. The Department Manager and the officials in the subordinate structural units provide for the following main operational activities and functions:
Averages and Insurance Sector
- selection and analysis of insurance offers;
- implementation of the insurance contracts agreed upon, keeping subsequent and due records, submitting claims and claim handling
- providing quotations and extra cover of vessels in case of any breach of warranty
- communication and negotiations with different insurance agencies, claimants' representatives and responsible parties on a certain incident, lawyers, average adjusters, etc. in relation to insurance events that have occurred (including accidents in the scope of applicable deductibles agreed), as well as undertakes actions relating to each specific case towards provision of the respective compensation for the Company
Cargo Claims Sector
- on obtaining information for a forthcoming claim, the Sector is actively involved in establishing the facts, providing assistance and all necessary instructions to the ship, agents, surveyors and Club correspondents
- on receiving cargo claims the Sector collects all necessary documents, analyses facts and settles claims considering circumstances related to each specific case, so as to minimize the Company losses and expenditure
- where necessary the Sector informs and works in cooperation with the P&I insurers and their correspondents in order to protect the company interests, as well as to claim damages that have occurred.