Melbourne Marine Insurance Forum Inc.
Neil Hiller has more than 35 years marine insurance broking, underwriting & risk management experience based in Australia, South Africa and in London. Before establishing Austbrokers Hiller Marine in partnership with Austbrokers, he was General Manager of the ‘Marine Specialty Risks’ division of QBE.
Common misunderstandings, misconceptions & myths - Cargo, Carriers & Freight Forwarders Insurance fundamentals
Many brokers who have an occasional involvement in arranging or placing marine insurance would acknowledge that they have little insight into some of the technicalities & complexities involved in marine insurance. in the past brokers have often relied on friendly experienced underwriters to guide them on marine insurance. However, looking at policy documentation, wordings & claims settlement letters being produced in the contemporary market, it is apparent that many modern underwriters are also not always aware of the origins, intentions & intricacies of certain principles & practices of marine insurance. Over time, some of the fundamental principles & practices that formed the basis of the knowledge of those who drafted the Institute Clauses & policy wordings of the last century have been almost forgotten. Neil Hiller provides some practical examples of where brokers & underwriters’ wrong assumptions can often prove misleading for those who have any involvement in marine insurance.
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