Friday, January 8, 2016

Marine Mutual Insurance Group New Boss Speaks Up

Review of Products and Development Promised
Shipping News Feature
NORWAY – WORLDWIDE – The CEO of mutual marine insurance company, Norwegian Hull Club, which insures over 10,000 unique vessels and units* globally, has written to the insurer’s members and clients to explain his plans to develop the business and offer new products. Faz Peermohamed, who officially took responsibility for the 15-year old marine insurer on 1 January, informed members that he intends to conduct a review of the club’s products and services with the aim of identifying opportunities for change and growth.

Lately the Club has been showing an interest in autonomous ship concepts and Mr Peermohamed emphasised the changing nature of the marine industry sector commenting:

“Shipping is a complex and dynamic industry, a reality impressed upon me by my own career as a ship’s master and maritime lawyer. Owners face increasing regulatory and legislative burdens while dealing with world events such as ever-changing market conditions, the Mediterranean refugee crisis, the struggle to find new access to financing, the ongoing issue of sanctions, and a whole range of other such challenges. In the face of these pressures, the Norwegian Hull Club’s mission is to make our members’ and clients’ lives easier, not harder.

“My first task is to review the club’s overall position with the aim of maximising our potential and identifying new opportunities. My goal is twofold: to nurture that which our members value about the club while developing new competitive solutions to help them manage their businesses in today’s changing market. It is my aim to grow the club’s core business in a measured and sustainable way in order to offer a wider range of products to protect maritime organisations against a growing array of risks, while at the same time maintaining a financially robust organisation with top quality service.”

*Accurate March 2015

Photo: Autonomous ships are an attractive , but somewhat distant objective.