UK Club insurers offer maritime BowTie risk management scheme in Asia

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MARINE mutual, the UK P&I Club, has announced it is launching a risk management scheme utilising a BowTie approach to identify areas of risk and minimise the occurrence of incidents, following "much" study and "in-depth trials" with a number of unidentified ship owners.

The new offering will be presented publicly for the first time in Asia during the Shipping Hong Kong Week this week (February 27 to March 2), and at the Business of Shipping conference on March 1, where the club's loss prevention director, Karl Lumbers, will explain the concept.

"Working with those members who wish to identify the various threats to the smooth (claim-free) running of their vessels, we conduct reviews on those areas which may cause claims. Thomas Miller P&I Ltd, the manager of the UK Club, has access to an incomparable amount of claims data resulting from extensive analysis of previous incidents over a period of 23 years and it is this that has enabled the club to identify 'threats, consequences and controls', the foundations of developing BowTie reports on individual vessels."

The BowTie methodology is a way of outlining in a graph both the controls that should be in place to contain a threat and therefore stop an incident, and the controls that should be in place to minimise the effect of any incident that does occur.

Source Shipping Gazette - Daily Shipping News
 

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