Insurance

Insurance

1. Andrew Bardot

Secretary and executive officer, International Group of P&I Clubs

As head of the International Group of P&I Clubs, Bardot represents the P&I insurers of more than 95% of the world’s oceangoing fleet. His attention is no doubt currently focused on the competition probe being conducted by the European Commission but his role co-ordinating the operation and regulation of the clubs’ claim-sharing agreement gives him a significant degree of influence in the industry. 

2. Ole Wikborg

President of the International Union of Marine Insurance

IUMI represents, safeguards and develops insurers’ interests in all facets of marine and transport insurance. As president of the organisation, Wikborg helps to oversee the overall advance of the marine insurance industry, as well lobbying and co-operating with organisations, both governmental and non-governmental. Iumi also helps to educate its members. As senior underwriter and a director at the Norwegian Hull Club, Wikborg has a prominent role at one of the largest pure marine insurers in the world. 

3. Stephen Quinton

Head of accident and special risks, Travelers Syndicate Management (5000)

In his role as the head of accident and special risks at Travelers, one of the biggest players in the K&R insurance industry, Quinton has had a major role in the industry’s response to piracy.With insurance claims arising from piracy reportedly exceeding $300m, industry figures such as Quinton have a battle on their hands to limit their exposure to the frequency of piracy claims while at the same time offering a product to shipowners that is both affordable and practical.

4. Guillaume Bonnissent

Manager and head of specialty risks, Hiscox

AS the lead Kidnap and Ransom underwriter at one of the largest insurers of K&R risks, Bonnissent has played an important part in the insurance industry’s response to the threat of piracy – an issue that has hit the shipping industry and its relevant insurance sector hard over the past few years. 

5. Clive Washbourn

Chairman of the Joint War Committee and head of marine at Beazley

Washbourn is an influential market figure at the centre of many of the industry’s most significant debates. While he has a major industry role as chairman of the JWC, Washbourn is also seen as one of the leading figures across the entire marine market through his work with Beazley, be it offshore energy, hull and machinery, cargo or, indeed, war.

6. Simon Williams

Chairman of the Joint Rig Committee and head of energy, marine and casualty at Hiscox

The Deepwater Horizon has been seen as a game-changer for the insurance industry and, as chair of the JRC, Williams has overseen discussions and advised on topics such as the impact of the Gulf of Mexico loss. In addition, he has advised on issues such as OPOL increases and the potential ramifications of amendments to the Oil Pollution Act of 1990. 

7. Claes Isacson

Chief executive, Assuranceforeningen Gard

Isacson is chief executive of Gard, the largest P&I insurer in the world and one of the largest overall marine insurance companies in the world.

In the past, P&I insurers, like many other insurance companies, have relied on investment returns to bolster their returns from underwriting. But over the past year, Gard has managed to achieve a greater balance between its underwriting performance, claims and investments. 

8. Mark Edmondson

Chairman of the Joint Hull Committee, vice president and marine hull class underwriter with Chubb

The JHC advises on regulatory issues and helps to create clauses that underwriters can insert into contracts, should the need arise. It also undertakes investigations into issues affecting the market. Edmondson also acts as a spokesperson for London’s hull underwriters. Earlier in the year, Edmondson warned that the introduction of new sanctions and regulations was the biggest single issue for marine insurers, and he urged underwriters to keep abreast of developments to ensure they are up to date. 

9. Tim Pembroke

Chairman of the Joint Cargo Committee and head of cargo and specie at QBE

As JCC chairman and in his position at QBE, Pembroke deals with all sorts of problems relating to cargo insurance. The JCC has advised marine insurers on upcoming rules and regulations such as the Rotterdam Rules, as well as assisting insurers on parts of the world with heightened risk, through the Cargo Watchlist. Perhaps more than any other class of marine insurance business, the cargo market suffered greatly at the hands of the economic downturn. As global trade levels increase, he will be looked upon to help the market deal with escalating risks.

10. Steven Beslity

Chief executive of global marine, Aon

Steven Beslity is head of marine at the largest insurance broker in the world. With the economic downturn hitting shipping industry especially hard, Beslity and his team at Aon will have seen firsthand the effect of the financial crisis on their clients. Beslity and the rest of Aon’s marine team have advised shipowners on the best ways to limit their exposure to risk while at the same time hunting out the best coverage available for the best price.  LL 10

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