Two UK maritime insurers become members of the Cargo Fire & Loss Innovation Initiative
Two major UK maritime insurers, the UK P&I Club and TT Club, become members of the Cargo Fire & Loss Innovation Initiative, according to LR's release.
Safetytech Accelerator is pleased to confirm that major UK maritime insurers, the UK P&I Club and TT Club have signed up for its Cargo Fire & Loss Innovation Initiative (CFLII).
The Initiative, launched in February 2023, is a multi-year collaborative technology acceleration programme focused on reducing cargo fires and loss in maritime and its impact. It is already supported by Anchor Partners COSCO Shipping Lines, Evergreen Line, HMM, Lloyd’s Register, Maersk, the Offen Group, ONE and Seaspan, which represent around 50% of the total liner shipping market.
The programme will help expedite the uptake of technology and best practice by identifying specific opportunities where technology can make a difference, shaping joint requirements, identifying technology solutions, undertaking trials and developing best practices and recommendations. It has already started working on solution for early fire detection in cargo hold.
The UK P&I Club, one of the world’s leading mutual insurers of third-party liabilities for ocean-going merchant ships, and TT Club, the market-leading independent provider of mutual insurance and related risk management services to the international transport and logistics industry, are the first insurers to join the Initiative, joining the significant proportion of the world’s container carriers already involved in the open-innovation initiative.
The Initiative has a broad technology scope, encompassing three significant topics of concern. The first relates to onboard cargo control, including whether cargo has been properly loaded, secured and monitored during transit. The second area covers onboard fire, the ability to rapidly detect fires and prevent propagation through effective onboard response, particularly on cargo vessels such as container ships and car-carriers. The third topic of concern relates to the challenges created by the increasing scale of vessels.
