RISK MANAGEMENT PHILOSOPHY

As one of the few mutual hull and machinery providers in the industry, MSMI firmly believes that by pooling loss prevention ideas and the claims experience of the membership, it can assist shipowners in avoiding problems and ultimately hull and machinery claims. MSMI formed the Loss Prevention Working Party in the early 1990s to facilitate this exchange of information and expertise and the benefits to MSMI and its Members are obvious.

As a mutual insurer, MSMI is committed to helping its Members manage their exposure to risk in order to assist Members in the prevention of accidents and claims. Risk Management at MSMI is broadly split into two principal areas; the condition survey of ships prior to and during entry with the Club and our comprehensive loss prevention programme.

Full details of the Loss Prevention Working Party, its membership and activities are found under the section MSMI Loss Prevention Working Party.