turkpandi

Underwriting

 

Türk P&I’s strong and experienced underwriting team provides insurance solutions via brokers. Before working on to determine insurance solutions for a ship, filled and signed information sheet shall be obtained from the applicant. After this, Türk P&I makes risk evaluation for determination of the adequate covers for the subject ship. Then Türk P&I proceeds to perform risk selection process in order to determine the efficient premium to cover the risks in question.

 

It is essential for us to carry out risk selection survey by the surveyors approved by Türk P&I during risk acceptance. If you are a new customer who has not insured by Türk P&I before, In the assessment of a risk, the Underwriter will take into consideration the business operation, trading environment, claims performance and potential risk exposure. Where applicable the claims performance will be analyzed over a minimum of the current plus 5 previous complete years. This same approach is used when considering renewal term of entry for existing owners.


Besides the recent conditions of the ships, other important issues which Underwriters consider is the business operation and trading environment.

 

An understanding of the operations and needs of each Member is achieved by frequent contact. Prompt service on such matters as oil pollution certification and related insurance issues is the target of our underwriting team. Access to a variety of specialized insurance and reinsurance programs enables the Türk P&I to provide cover to suit the needs of each assured. The key point of an underwriting process is to build a strong and long-running relation with our assured. Our duty is to ensure continuous improvement of our assureds’ business quality from the point of the risk portfolio and management standards.


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