Why SafeWaters Test2017-05-15T02:29:42-06:00

WHY SAFEWATERS

SafeWaters develops tailor-made solutions to the Marine space through a group of highly talented industry professionals with knowledge beyond the traditional underwriting level. This expertise comes with actual shipping/engineering/claims hands-on experience, allowing the SafeWaters team to better understand the needs of our customer and to develop solutions accordingly.

At SafeWaters we put the customer as the focal point. Marine Loss Control services provided by our highly experienced team members and network of approved vendors are paramount to the success of our customer-centric strategy. We have an extensive network of professionals that know our level of expectations.

OUR APPROACH TO LOSS CONTROL

At SafeWaters, we listen to and understand your issues, which enables us to customize solutions around your particular needs and preferences. A prerequisite to being part of the SafeWaters team is having experience in the field of Marine Loss Control. Using such in-house expertise combined with our extended network of vendors (marine surveyors, engineers and security consultants), we effectively partner with our clients to reduce/minimize losses.

We routinely tailor individual loss control services for specific clients, ranging from yachts, marine terminals, shipyards, manufacturers and logistics operations through large infrastructure projects (project cargo) operations.

SafeWaters has experienced loss control expertise to mitigate our customers’ risks and minimize costly delays. Our comprehensive loss control services are based on three core principles:

  1. Practical Loss Prevention: Helping customers minimize losses by analyzing potential exposures using the expertise of our team and external vendors
  2. Responsive Loss Control: Assisting clients prevent future losses by analyzing historical claims frequency and severity trends and acting to address weaknesses
  3. Continuous Consultation: Maintaining open communication between the customer and SafeWaters to enhance loss prevention efforts

Financial & Operational Impacts of a Loss

Our customers can also take advantage of the expertise of our independent surveyors and loss control experts who specialize in Yachts, Hull & Machinery, P&I, infrastructure projects, cargo, towing, heavy lift, logistics and warehousing.

When focused on cargo, Marine Loss Control works to identify, analyze and control risk within the transportation environment. Knowledge and understanding of the multiple exposures experienced by cargo throughout the transit chain is converted into effective practical measures to reduce exposure to risk and to positively impact the operational business.

Loss control services works to mitigate the consequential impact of a loss that is, in most cases, much greater that the amount recovered under the insurance policy. When using cargo as an example, we can identify financial and operational impacts. 

  • Financial impact: Loss of market, loss of sales, interruption to cash flow, potential increase in insurance premium, increased administrative costs
  • Operational impact: Interruption to supply chain, damage to reputation (with customers and within the industry), tension in relationships with customers and suppliers, personnel frustration and loss of morale, loss of brand image
Loss Control Services
  • Yacht Condition surveys including the use of infra-red thermal imaging and other non-invasive technologies to identify potential hull, electrical and machinery failures
  • Storm preparation/evacuation plans assessments
  • Crew background check and licensing check
  • Utilization of new technologies and materials in yacht construction
  • Consultation and advice on quality yacht clubs, marinas and repair facilities worldwide
  • Consultation regarding selection of transport route, means of conveyance, packaging, etc.
  • Development of handling and securing procedures
  • Development of packaging standards
  • Organization and carrying out load securing surveys and warehouse surveys
  • Knowledge transfer by means of training and seminars for customers/brokers and personnel
Approach to Loss Prevention

We adjust to our customers’ businesses, their operating procedures, their tools, their providers, the general circumstances that will define the risk. Normally we find ourselves performing our job utilizing a structure divided in various phases:

  • Analysis
    • Kick-off-meeting
    • Claims history analysis
    • Benchmarking
  • Development of a program
    • Selected locations/risks to be visited
    • Definition of solutions and recommendations
  • Program Implementation - Phase I
    • Implementation of recommendations
    • Evaluate effectiveness
    • Revise Recommendations
  • Program Implementation - Phase II
    • Implementation of revised recommendations
    • Continuing monitoring of claims

OUR APPROACH TO CLAIMS

SafeWaters has the unique advantage of a CEO with extensive prior hands-on and executive Marine Claims and Marine Loss Control experience who supports his operation on the basis of service.

We provide professional marine and transport claims handling and resolution including marine and cargo surveys. In order to meet today’s claims challenges, we require solutions that are based on a creative and multidisciplinary approach with the customer as the central focus of this service.

Following a loss, we work with our customers on evaluating the extent and cause of the loss, support efforts to recover cost through subrogation and salvage, and assist our customers with all aspects of the claim in order to have a very speedy resolution.

Premiere claims service is SafeWaters’ goal. Quality claims handling and communications is a multi-part process which requires proper handling and expedited payment.

OUR APPROACH TO CATASTROPHE MANAGEMENT

While there are plenty of catastrophe models in the non-marine sector, the marine industry has often found it difficult to accurately manage exposures due to the non-static nature of the risks. Existing models offer little differentiation by commodity type, cargo volume or storage configuration, which is why SafeWaters works with the actuarial team (external/internal) to develop a marine catastrophe modeling solution.

SafeWaters’ Models Enable:

  1. More accurate assessments of accumulations and loss potential from natural catastrophe events
  2. Improved pricing assumptions for marine risks, leading to more competitive product offering
  3. Enhanced exposure management, accumulation control and claims service
SafeWaters Underwriting Managers is a series of RSG Underwriting Managers, LLC. RSG Underwriting Managers, LLC is a Delaware series limited liability company and a subsidiary of Ryan Specialty Group, LLC, specializing in underwriting management and other services for insurance products distributed through agents and brokers. In California: RSG Insurance Services, LLC License # 0E50879 ©2019 Ryan Specialty Group, LLC