Member Benefits Update

Risk Control: When the Past Comes Back to Cost You

How important is it for a naval architect to have professional liability coverage? Here's one example of how insurance helped a naval architect manage a claim of negligence on his tug project.

Two years after delivering a design for the tugs, the naval architect updated the specifications at the client's request. The client ordered four tugs – and subsequently brought a suit against the naval architect. The client alleged that defects in the architect's revised specs had caused the building of the tugs to be delayed and claimed $2.5 million in damages. The claim was found to be without merit. But the naval architect incurred $150,000 in legal costs and experts' fees in the course of defending himself. Because he had professional liability coverage, he did not have to fund these fees himself.

Many architects and engineers feel that doing good work is their best protection – and in most cases it is. But sometimes even the most skilled professionals can be drawn into lawsuits over the quality of their work. If your firm's good name was challenged in a meritless claim, could you afford to defend it?

As a SNAME member, you have access to professional liability policy with coverage for legal defense costs, settlements, compensation and damages. Visit www.aonaeadvantage.com/sname for more information and a members-only coverage quote.

A&E Advantage is a division of Affinity Insurance Services, Inc. in all states except: AIS Affinity Insurance Agency in NY; AIS Affinity Insurance Agency, Inc. in MN and OK; AIS Affinity Insurance Agency, Inc. dba Aon Direct Insurance Administrators in CA (License #0795465). Coverage availability may vary by state. This summary is for illustrative purposes only and should in no way be considered to accurately summarize the available insurance coverage. All policies are subject to the terms, conditions, exclusions, company underwriting guidelines and approval. ©2008 Affinity Insurance Services, Inc. X-6162-408

World Maritime Technology Conferences have been hosted by SNAME in San Francisco in 2003, and by IMarEST in London in 2006. The next conference will be held in Mumbai, India, January 21-24, 2009, hosted by the Institute of Marine Engineers, India (IMEI). See www.wmtc2009.com.

WMTC 2009 offers an opportunity to present a paper to an international audience representing nearly all segments of the maritime industry worldwide. Synopses of 450 words are required by 15 May 2008. Final drafts are required by 15 September 2008. For details click here.

India is a maritime power with large investments by the Federal and State governments, the private sector, and international companies. Suppliers of major and auxiliary machinery and equipment established in India benefit from the impressive and rapid growth of the Indian maritime industry. WMTC 2009 is an excellent opportunity for international recognition.

About the Chamber of Marine Commerce:
The Chamber of Marine Commerce (CMC) is an Ottawa-based association that represents more than 185 marine industry stakeholders including major Canadian and American shippers, ports, terminals and marine service providers, as well as domestic and international shipowners. The CMC represents the interests of its members by addressing government issues affecting marine transportation. Advocacy extends to both the federal and provincial levels of government and, when appropriate, to U.S. federal and state governments and agencies. The marine industry is vital to our prosperity by enabling efficient trade within North America and around the world. As the safest and most environmentally sound method of carrying bulk freight, the increased use of marine transportation offers opportunities to alleviate highway congestion, improve utilization of waterway capacity and reduce greenhouse gas emissions.

Classic Yacht Symposium

The Third Classic Yacht Symposium, held on April 4-6, in Bristol, Rhode Island, was co-sponsored by the Herreshoff Marine Museum and the Society of Naval Architects and Marine Engineers. The event began on Friday morning with a tour of three boat restoration shops specializing in the restoration of classic yachts including MP&G in Mystic, CT, Stonington Boat Works, in Stonington, CT and Taylor & Snediker in Pawcatuck, CT. All three shops opened their doors to participants for an up-close view of their current restoration projects and a firsthand view of the techniques used in the restoration of classic wooden boats.

The successful day-long boat shop tour was capped by an opening reception for all attendees and authors at the Herreshoff Marine Museum. Halsey Herreshoff introduced the symposium’s planning committee members and spoke about this year’s wide selection of highly qualified papers and presentations. Philip Kimball, SNAME’s Executive Director, conveyed the greetings of Society President Kramek, and extended his wishes for a most successful third symposium, on this the 115th anniversary of the Society. He also introduced to the audience a framed certificate of appreciation intended for Olin J. Stephens, II, one of the Society’s highly respected Honorary Members and a constant contributor to the profession over his 74 years of membership, who was about to celebrate the grand occasion a full century of life on April 13. Read more ...

SNAME, Maritime Reporter Collaborate on 115th Anniversary Edition

In 2008 SNAME will celebrate 115 years of advancing the art, science and practice of naval architecture, shipbuilding and marine engineering. SNAME will celebrate the milestone all year long, culminating in the publication of special “SNAME Turns 115” issue– produced by Maritime Reporter & Engineering News – and dedicated to SNAME members and the marine industry.

SNAME member participation is welcome, and in fact crucial to the success of this project. Some ways in which you can participate:

• Send us your historical photographs: scanned and transmitted electronically (300 dpi/.jpg preferable). If sending hard copies, please send duplicates, as original material will not be returned. If sending photos, please provide as much detail, including names of those pictured, as possible.
• SNAME and Your Career: Let us know how SNAME membership has helped your career.
• Special memories of SNAME: If you have an interesting, humorous or insightful story or antidote, please share it in this historical publication.

We welcome your ideas. Send them to Greg Trauthwein at SNAME115@marinelink.com by June 1, 2008.

Best Regards,
Greg Trauthwein
Associate Publisher and Editor
New Wave Media - New York
tel: 212-477-6700

Print Publications:
Maritime Reporter & Engineering News • Marine Technology Reporter • MarineNews

Electronic Products:
www.marinelink.com • www.seadiscovery.com • www.maritimejobs.com • www.maritimetoday.com