Car Transport Ship Felicity Ace Catches Fire Mid Atlantic
02-19-2022, 06:02 PM
#271
Never claimed to be an insurance expert, and especially when it comes to maritime law/insurance. But I am familiar with both general and professional liability insurance which provided liability insurance to me / company against accidental accidents and negligence, etc. But like any insurance, it had it’s limits on the liability coverage/payout.
I just read this:
”With cargo typically insured at full replacement value, especially items that are high value, Skytek suggests that this could be a half a billion dollar loss for the marine re/insurance industry.Skytek also states that the estimated market value of the ship is $24.5 billion.”
So, while all 3,954 cars are (likely) fully insured, the much larger price tag could be the ship itself … if it went down, or needed extensive repair? While I’m sure the shipping company is insured for such events, if it were ever determined that Porsche’s negligence was the cause…could the ships’ insurance company go after someone to try and recoup such a huge loss? I don’t know, but given the amount of money involved, I’m sure all the lawyers will be busy? Time will tell?
To be honest, I find this fascinating. Can’t wait for the movie!
I just read this:
”With cargo typically insured at full replacement value, especially items that are high value, Skytek suggests that this could be a half a billion dollar loss for the marine re/insurance industry.Skytek also states that the estimated market value of the ship is $24.5 billion.”
So, while all 3,954 cars are (likely) fully insured, the much larger price tag could be the ship itself … if it went down, or needed extensive repair? While I’m sure the shipping company is insured for such events, if it were ever determined that Porsche’s negligence was the cause…could the ships’ insurance company go after someone to try and recoup such a huge loss? I don’t know, but given the amount of money involved, I’m sure all the lawyers will be busy? Time will tell?
To be honest, I find this fascinating. Can’t wait for the movie!
02-19-2022, 06:53 PM
#272
https://www.reinsurancene.ws/burning...s-says-skytek/
Last edited by CodyBigdog; 02-19-2022 at 06:55 PM.
02-19-2022, 07:09 PM
#273
Think logically. That’s a typo in the article and I suspect it should read million, not billion. It cost Royal Caribbean approximately 1.4 billion to build the Allure of the Seas. Absolutely no way is a 20 year old car carrier worth 24 Billion
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dhirm5 (02-19-2022)
02-19-2022, 07:17 PM
#274
Three Wheelin'
Never claimed to be an insurance expert, and especially when it comes to maritime law/insurance. But I am familiar with both general and professional liability insurance which provided liability insurance to me / company against accidental accidents and negligence, etc. But like any insurance, it had it’s limits on the liability coverage/payout.
I just read this:
”With cargo typically insured at full replacement value, especially items that are high value, Skytek suggests that this could be a half a billion dollar loss for the marine re/insurance industry.Skytek also states that the estimated market value of the ship is $24.5 billion.”
So, while all 3,954 cars are (likely) fully insured, the much larger price tag could be the ship itself … if it went down, or needed extensive repair? While I’m sure the shipping company is insured for such events, if it were ever determined that Porsche’s negligence was the cause…could the ships’ insurance company go after someone to try and recoup such a huge loss? I don’t know, but given the amount of money involved, I’m sure all the lawyers will be busy? Time will tell?
To be honest, I find this fascinating. Can’t wait for the movie!
I just read this:
”With cargo typically insured at full replacement value, especially items that are high value, Skytek suggests that this could be a half a billion dollar loss for the marine re/insurance industry.Skytek also states that the estimated market value of the ship is $24.5 billion.”
So, while all 3,954 cars are (likely) fully insured, the much larger price tag could be the ship itself … if it went down, or needed extensive repair? While I’m sure the shipping company is insured for such events, if it were ever determined that Porsche’s negligence was the cause…could the ships’ insurance company go after someone to try and recoup such a huge loss? I don’t know, but given the amount of money involved, I’m sure all the lawyers will be busy? Time will tell?
To be honest, I find this fascinating. Can’t wait for the movie!
Yet another big non-answer from the self-proclaimed big dog. How is professional liability insurance at all relevant to this question? Did the cars commit malpractice? Should we also consider trip insurance which is about as relevant to the topic?
And, just so the record is really clear, you were not speaking about professional liability insurance. You were speaking about insurance in general - and many types. Here is what you wrote and what I responded to:
"As the former owner of a high tech company, myself, I’ve never seen any insurance policy for my company, my employees, my home, cars, boat, etc, etc that waived any and all responsibilities I had as the owner. With ownership comes responsibilities."
I also never said that you claimed to be an insurance expert so no need to negate that. You said "If I know anything about insurance" and I simply pointed out that that premise was wrong.
02-19-2022, 07:22 PM
#275
But if it bothers you, you might want to contact this insurance News organization. Here is how you can contact them:
Contact the team directly using our contact form here, by email at contact@reinsurancene.ws, by phone on +44 (0) 1273 – 930404,
Let us know what you find out? 👍
02-19-2022, 07:25 PM
#276
Yet another big non-answer from the self-proclaimed big dog. How is professional liability insurance at all relevant to this question? Did the cars commit malpractice? Should we also consider trip insurance which is about as relevant to the topic?
And, just so the record is really clear, you were not speaking about professional liability insurance. You were speaking about insurance in general - and many types. Here is what you wrote and what I responded to:
"As the former owner of a high tech company, myself, I’ve never seen any insurance policy for my company, my employees, my home, cars, boat, etc, etc that waived any and all responsibilities I had as the owner. With ownership comes responsibilities."So I guess if you get into an accident with your car and you are at fault your insurance doesn't cover you? If you run your boat aground in the shallows and rip off your outdrives, your insurance covers that.
I also never said that you claimed to be an insurance expert so no need to negate that. You said "If I know anything about insurance" and I simply pointed out that that premise was wrong.
And, just so the record is really clear, you were not speaking about professional liability insurance. You were speaking about insurance in general - and many types. Here is what you wrote and what I responded to:
"As the former owner of a high tech company, myself, I’ve never seen any insurance policy for my company, my employees, my home, cars, boat, etc, etc that waived any and all responsibilities I had as the owner. With ownership comes responsibilities."
I also never said that you claimed to be an insurance expert so no need to negate that. You said "If I know anything about insurance" and I simply pointed out that that premise was wrong.
You didn’t ask a question, you accused me of knowing nothing about how insurance works. Wrong.
Oh, and the reference to BIGDOG, is me honoring my decease dog…and yeah, he was a “big dog”.
Last edited by CodyBigdog; 02-19-2022 at 07:30 PM.
02-19-2022, 07:26 PM
#277
Don’t believe everything on the internet …..this carrier did not cost 2X more than a aircraft carrier. (:
02-19-2022, 07:27 PM
#278
02-19-2022, 07:29 PM
#279
02-19-2022, 07:31 PM
#280
Three Wheelin'
You really need to focus on your reading comprehension - or at least open your eyes when you read. I never said I asked a question. So starting your response with "You didn't ask a question" in nonsensical - like most of your posts. I assume your next response will be as well, so I will quit wasting my time and the time of anyone reading this thread.
02-19-2022, 07:46 PM
#281
I just read by law, the maximum amount of fuel for shipment is only 500ml…additionally, I don’t know a thing about insurance, but I hope they spread that kind of risk over multiple carriers..
Last edited by NYCGT3; 02-19-2022 at 07:49 PM.
02-19-2022, 07:59 PM
#282
You really need to focus on your reading comprehension - or at least open your eyes when you read. I never said I asked a question. So starting your response with "You didn't ask a question" in nonsensical - like most of your posts. I assume your next response will be as well, so I will quit wasting my time and the time of anyone reading this thread.
We’re done. Bye.
Last edited by CodyBigdog; 02-19-2022 at 08:10 PM.
02-19-2022, 08:03 PM
#283
Will Porsche follow-up the Heritage edition with an Ablaze edition?
Asking for a friend.
Asking for a friend.
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aggie57 (02-19-2022)
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981KMAN (02-19-2022)
02-19-2022, 08:07 PM
#285
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