b'10American Journal ofTransportation ajot.comA New Yorker: The American P&I Club (NEUTRALcontinued fromstandpoint, for us, its neces-page 8) sarytohave,itsnecessary at the end of the day. So, techto invest in, but I think from By George Lauriat AJOT plays a big part in that. the NVO business standpoint, And as Troy outlined inour value we bring as well is Although Hartford, Con- connection with legal liabilitiesferencesisthewaythatthetheinterview,agreatdealthe personnel, right? Being a necticut is still the unofficialto third parties for: serviceisprovided.UnlikeofthetechwasdevelopedUS owned and operated com-home city for general insur-Loss of life, injury and ill- commercialinsurers,P&Iin-house.Andwereluckypany, which is, I guess fewer anceintheUnitedStates,ness of crew, passengers andClubsdonotjustreimbursewevedonealotin-house,thesedaysthanever,from New York City is the undis- other persons when there is a claim. Clubsso its finding that happy bal- anNVOstandpoint,being putedhomeforthenations Cargo loss, shortage or damage are vested and active partnersance between good productsclosetoclientisimportant. marineinsuranceindustry. Collision oftheirmembersfromdayon the market from a technol- Thecallsthatweregetting NYC is the home for major Damage to docks, buoys andone. Clubs employ surveyors,ogystandpoint,andseeingthisweektoreroutecargo marineinsurers,underwrit- other fixed and floating objects lawyers, and experts in officeswhereweshouldinvest,asandthrowingideasaround ing and claims operations, as Wreck removal in most major shipping hubs,well as what we can developandadvicetoclients.The well as for managers and cor-Pollution with regional know-how andin-house tech works great when every-respondentsforP&IClubs, Certain fines and penalties experience. These profession- thingsmovingsmooth,but including the unique Ameri-Mutiny and misconduct byals,incooperationandcon- t hep eOpleF actOr when you need to have those can P&I Club. crew sultationwiththemember,With AIonthehorizonexceptionsandthoseoutli-MostAmericanshave Crew repatriation and sub- manage the incident and directandclosingfast,sometimesers, the personnel is what the never heard of P&I insurancestitutionbecauseofacasu- the actions throughout the lifethe people factor gets lostcompany[TroyContainer orofaP&IClub.Protectionalty or illness/injuryof the claim. in the industry chatter aboutLine] drives the value of the and Indemnity isnt something Quarantine thefuture.Troystakeoncompany forward.thathasageckotopromotea mericaNp&i: c lubs aND thebalancebetweenpeopleAndtheultimatetake-familiarity. But P&I insuranceV esselD iVersiONe xpeNses c lubbiNg andtech,isinterestingasawayisthatforallthe is an essential feature of inter- tOs aVel iFe ats ea The American P&I Club,he has been strong vested inchanges,beinganeutral national marine commerce.AndasIoannoupointsas previously mentioned, isatechthroughouthiscareer.NVO remains a people first DorotheaIoannou,Sec- out, in addition, perhaps one(P&I CLUBcontinued onMichaelTroyIIsviewisbusinessinanincreasingly retaryforthe AmericanP&Iofthemostimportantdif- page 12) And from the technologytech business environment.Club, explained in an e-mail interview the difference between P&IClubinsurancefrom other marine (and indeed gen-eral)insuranceproviders. P&I Clubs differ from other marineinsuranceproviders on multiple levels. They are not-for-profitmutualasso-ciations; in other words, their maingoalistoensurethat sufficientcapitalismain- The Pioneer of Integrative Solutions on Land and Seatainedandreservedtomeet claims, regulatory and oper-atingcostobligations.They arenotshareholderprofit-driven/prioritized.Port of CoeymansDorothea Ioannou, Secretary for the American P&I ClubEssentially, it is a form of self-insurance, and IoannouNorth Shore Terminal - Staten Islandremarked,To put it simply, as a mutual, the insureds are alsotheinsurers,sincethe insureds(calledmembers) contributepremiumswhich arepooledtoaddressthe losses of all insureds.p&i c OVerageP&I Clubs also differ from othermarineinsurersinthe typesofcoverageprovided. UnliketraditionalcommercialStevedoringmarineinsurerswhichcoverEquipment Rentalsvesselownersfordamageor loss to the ship itself, P&I ClubsMaritime & Logisticsprovidecovertoshipowners,Shipyard Vessel Repairoperators,andcharterersforTug & Barge Marine Towingthird-partyliabilitiesencoun-tered in the commercial opera- Property & Port Managementtionofenteredvessels. AllGeneral & Marine Constructionthe risks covered are expressly518-756-2164listedintheRuleswhichare incorporatedintothepolicyMaritimeConstructioninfo@carvercompanies.comwiththemainitemsbeingwww.carvercompanies.comcosts,expensesandlossesininfo@carvercompanies.comwww.carvercompanies.com'