LONDON, 20 December 2005 – Aon Limited, a leading insurance broker and risk management consultant, has become the first insurance broker to join the Society of International Gas Tanker & Terminal Operations (SIGTTO).
Aon plans to use active participation at SIGTTO regional meetings to enhance members’ understanding of risk and insurance issues, and support the association’s objectives to encourage safe and responsible operation of liquefied gas tankers and marine terminals handling liquefied gas.
Captain James MacHardy, General Manager of SIGTTO, commented: “Aon will bring value to our existing and future members by providing an insight into the insurance market and how the roles of brokers, underwriters and the P&I Clubs can support our drive for safety. Aon’s involvement will also enable an exchange of information between the insurance and tanker sectors about accidents and near misses, with the aim of controlling identified and unidentified risks in the future. This will complement the role of the P&I Clubs who are already involved in SIGTTO.”
Steve Allum, Chairman of Aon’s Marine Global Practice Group, is representing Aon as the new non-contributory member of SIGTTO. Mr Allum said: “It is important that the insurance industry is proactive in supporting the safety objectives of tankers and terminals, rather than solely responding to incidents and tackling issues a few years down the line. Risk managers and insurance experts should be looking to innovate and design tailored risk management techniques and programmes to address ongoing and emerging issues.”
Mr Allum added: “For day to day trading, we will be able to provide advice to the other members on the risk management and insurance implications of any new proposal, such as ship to ship transfer.”