Survey of Vessel: The Marine Insurance Underwriter's Point of View

Abstract

Gauci presents a marine underwriter's perspective on the necessity of pre-condition vessel surveys for unregistered, poorly maintained small vessels in Australia, in order for insurers to conclude if insuring the vessel is a good prospect. These are a greater hazard risk than that of underwriting the hulls of larger vessels, which are checked many times over by many different groups of experts before launch, and are registered with classification societies which offer the guarantee of condition. The author also discusses the process of obtaining a pre-condition survey and the considerations involved.