IUMI call for greater transparency from Paris MOU

Citing Equasis, a public web portal aimed at raising standards in shipping, Lange indicated that he would like to see details of the Paris Memorandum of Understanding's ship risk profiles, as well as its company profiles, uploaded to the site.

“In particular with the introduction of the Paris MoU new Inspection Regime, data on ship risk profile and company performance are now worked out by Paris MoU," he wrote. "This additional information could assist insurers in assessing the quality of the risks they are proposed to underwrite, giving them the opportunity to differentiate their underwriting approach and risk assessment. However, as the data is not released to Equasis it is consequently hardly available to marine underwriters."

“While understanding that such additional information alone is not a sufficient indication of the condition of a ship, the information it provides will add transparency and be an important leverage to the risk assessment performed by underwriters.”

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