In the world of shipping and transport, P&I clubs are an essential part of doing business. Every ship, shipment, piece of equipment and person involved in the expansive process of international transport needs to be insured. Although all parties involved work hard to stay safe and compliant, it is important to know that if something does go wrong, everything is covered. Although it is impossible to prevent all incidents, there are definitely processes P&I clubs can employ to mitigate the risk of incident and the costly, sometimes fatal, results. As we wrote earlier, P&I Clubs share a lot of the same goals as survey and inspection companies. Since there is a natural partnership between insurance organizations and survey companies, it makes sense that there are significant benefits to working together. Here are 3 ways P&I clubs can benefit by partnering with a survey company:
1. An international network
P&I clubs insure fleets, projects, and equipment all over the world. International survey and inspection companies have surveyors and inspectors all over the world. One of the challenges many insurance organizations have is finding someone local (or at least in the general vicinity) who can do a survey or inspection on short notice. They often lack the relationships, network or understanding of the particular place to find the right person for the job. Instead of spending significant time and resources in finding the right person on short notice in a far-away location, P&I clubs can partner with survey companies that already have inspectors and surveyors all over the world ready to respond.
2. High level expertise
Beyond the challenge of finding someone who can do the particular job, there is also no real way of properly vetting the inspector or surveyor on short notice. This can become a bigger problem for P&I clubs when working in parts of the world where the standards of safety and compliance are still developing. Survey and inspection companies work hard and take the time to find qualified experts to represent clients all over the world. By partnering with a survey and inspection company, P&I clubs know that the best in the business are going to be representing their interests in the field.
3. Single point of contact
Coordinating with multiple people in the same location is enough. When you add multiple time zones, languages, and cultural differences, it can quickly become unmanageable. However, when a P&I club partners with a survey company, they hand off the coordination and only have to communicate with one project manager. The survey and inspection company handles all the back and forth across the continents, saving the insurance organization time, resources, and energy. It is in the best interest of insurance companies to mitigate risk before any damage. By working with a dedicated survey and inspection company, P&I clubs ultimately get better local inspectors without the problem of managing the day to day project.
About Nordic Maritime Solutions
Nordic Maritime Solutions is an international inspection and survey company with experts all around the world. We are our client’s eyes, ears, and voice on site no matter the project is in the world. Give us a call today!