News

 

 

 

  • NEWS RELEASE - AAA Seminar September 2019

    20 September 2019

    Please find attached Press Release.  Download here

  • IUA/AAA Seminar 3 September 2019

    4 September 2019

    Lloyd’s Open Form – Dispelling the myths” was the topic for the autumn joint IUA/AAA seminar on 3rd September, attracting over 100 attendees from all sections of the market. AAA chairman, Richard Cornah, provided a brief introduction about LOF and the work of the Lloyd’s Salvage Group before handing over to Paul Cunningham, Marine and Energy Claims Manager for Talbot Underwriting Ltd. Paul declared himself to be a supporter of LOF as the right basis for dealing with serious casualties, particularly when time was of the essence. Once services were complete LOF provided a clear framework for both security and ultimate settlement and the great majority of cases were settled by negotiation without needing to go to Arbitration at all. Although this saved costs, there was a possible downside in that such settlements we generally not made public so that Arbitrators, when faced with a major casualty at arbitration, might not be fully aware of how the market valued the more routine salvage cases. He suggested that London market insurers should perhaps follow the example of the Scandinavian market in taking a much more active role in the salvage side of big casualties and that cargo interests should be better represented during operations when this was practicable. Better claims procedures being agreed in advance with Assureds would also help to ensure that the appropriate type of salvage contract was agreed according to the circumstances of the case.

    Roger Evans, now ISU Secretary General after many years active salvage experience with Smits, opened his PowerPoint presentation with an authentic looking, but happily spoof, press release saying that Lloyd’s had decided to withdraw support for LOF and parties would have to make their own arrangements. However he pointed out that the legal right to salvage awards, enshrined in the Salvage Convention, would not go away and parties would have to negotiate and litigate without the benefits of LOF’s well understood framework. He outlined the various provisions in LOF that provided a balance between the various parties involved and the key principles of salvage law and practice – all set out in the presentation that can be viewed through the link below. Salvors were operating in a very competitive market, with cases now fewer in number but often much more demanding in terms of skills and resources required – cooperation rather than polarization was needed to meet current and future challenges.

    Download Roger's slides here

  • NEWS RELEASE - Annual Dinner 2019

    29 May 2019

    Average Adjusters are firmly equipped for hi-tech challenges, declare speakers at Association’s annual dinner

    Download the article here 

     

  • NEWS RELEASE - Exam successes 2019

    29 May 2019

    Outstanding successes emerge from latest Association of Average Adjusters exams 

    Download the article here

  • NEWS RELEASE - Address by Lord Clarke at the AAA AGM

    24 May 2019

    Supreme Court was right in its ruling on ‘Rule F’ controversy, Association of Average Adjusters annual meeting is told. 

    Download the press release here

  • NEWS RELEASE - Richard Cornah takes on Chair of AAA

    24 May 2019

    Willum Richards hands over chairmanship of the Association of Average Adjusters on its 150th anniversary to Richard Cornah  

    Download the press release here

  • Chair's Welcome 2019

    10 May 2019

    Our Association’s 150th anniversary year provides opportunities to recall the achievements of our distinguished predecessors, to reflect on current times and to look to the future. It is a great honour to be asked to be Chair in this special year, and I hope to make the most of all these opportunities on behalf of our members and the wider markets that have provided their support over many decades.

    The year of 1869 was a turbulent one for the British and global economy, with many business failures resulting from speculation and a period of depression.  Change was very much in the air. It was the year that the “Cutty Sark” was launched; it was also the year that Suez Canal was opened, starting the gradual decline of the great sailing ships. Against a background of uncertainty and increasing complexity in every aspect of maritime trade, the Association was formed with the same objectives we have today:

    “The promotion of correct principles in the adjustment of Averages, uniformity of practice amongst Average Adjusters and the maintenance of good professional conduct.”

    Reliance on custom and usage in the adjustment of claims was being displaced by the increasing number of judgements from the Courts on maritime matters – as Richard Lowndes put it in 1873, adjusting was becoming a science, and markets were expecting a rational and reasoned approach rather that unexplained black arts.  The markets therefore expected what we would now call “transparency” and this has become one of our key objectives in recent years – our website provides a bank of information and guidance that we continue to add to, and the opening up of the examination system  has provided access for many young professionals to the principles and practices that make up the science of adjusting.

    The response in terms of membership of the Association has been very gratifying. In 1902 the total number of Members (now Fellows), Associates and Annual Subscribers etc. came to 257; the equivalent figure is now  over 500 and, just as importantly, my guess is that the average age of that membership has probably never been younger. Certainly, the range of countries represented has never been wider.

    As well as giving ourselves a pat on the back for what we have done well in the past, I hope that we can use some of our time this year to ask the markets we serve what we could be doing better or differently, or both. We will only be able to celebrate future anniversaries if we remain useful and relevant to the commercial world of the future. Happily, we already have a definition of that ‘usefulness’ to work with –

    “The use of the adjuster individually is to grease the wheels of commercial machinery, to do work which neither the assured nor the underwriter have either time, training or inclination for, in such a manner as to expedite settlements without resort to the expensive machinery of the law :  His duty is to act fairly to both parties to the contract of insurance or the contract of carriage, to set down all material facts, withholding nothing of importance, to present the figures of the suggested settlement in such a manner as to be capable of being easily grasped, and above all, in all cases wherever definite law or practice is not clear, to place the matter before the parties interested in such manner as to facilitate an agreement between them”. 

     Those words, written by Ernest Robert Lindley in 1904, have often been quoted simply because they cannot be improved upon.

    I look forward to the events during the next twelve months and would like to thank Ann Waite and the Committee of Management for all the work that has already been done. Together with Keith Martin and Willum Richards, they are also due a warm vote of thanks for successfully steering the Association through the process of incorporation, which will put us on a sound legal footing for the future.

    Richard Cornah

    Chair & Honorary Fellow of the Association of Average Adjusters

     

  • NEWS RELEASE - AAA Seminar 26 March 2019

    2 April 2019

    Please download the news release here

  • IUA AAA Market Seminar 26 March 2019

    31 March 2019

    Nigel Rogers, Fellow of the Association and Partner, Rogers Wilkin Ahern presented 'Dear Prudence', examining the time-honoured phase - "act as if prudent uninsured" - and how satisfactorily it provides guidance to ship owners in the commercial environment. 

    Download the slides here

  • NEWS RELEASE - AAA Seminar 4 September 2018

    19 October 2018

    Download the press release here

  • IUA AAA Market Seminar 4 September 2018

    4 September 2018

    John Martin, Fellow of the Association and  Managing Director, Gard (Singapore) Pte presented 'The Hallowed Book of Norway'

    Download the slides here

  • B Atlanic - Supreme Court Judgement

    2 June 2018

    Please find attached a link to the judgement delivered on the B Atlantic

    https://www.supremecourt.uk/cases/uksc-2016-0192.html

     

  • NEWS RELEASE - Annual Dinner at The Savoy

    29 May 2018

    Please download the press release here

  • NEWS RELEASE - Richard Cornah elected Honorary Fellow

    22 May 2018

    Download the Press Release here

  • NEWS RELEASE - Chairman's Address May 2018

    16 May 2018

    Download the press release here

  • Chairman's Welcome

    11 May 2018

    Hello again!

    As I start my second year as Chair of the Association I am very pleased with what has been achieved in the last year and hope to continue with the progress in the year to come.

    Wherever I travelled during the last year, the reputation of the Association as a quality organisation maintaining the highest standards and qualifications was evident.  Being an Average Adjuster or working in marine claims more generally has never been easy.  The situations which ships and cargoes sometimes get themselves into are extraordinary.  The ability of the members of the Association to provide quality, timely independent advice is such circumstances has rarely been more relevant.  As the values at stake increase, the parties want quick but, more importantly, correct advice on how the matters should be resolved. Through the Associations rigorous examination system, we are maintaining the standards in the field.

    The last year saw the Association expand its exam repertoire to include a route for candidates to attain the Associate level qualification through a new Offshore Energy module.  With our first successful candidate in the recent exams in March, we are looking forward to that exam gaining traction within the offshore sector.

    We will continue to assert the AAA’s profile by means of participation in the biennial seminars held under the auspices of the International Underwriting Association, as well as look to support other short seminars and presentations around the world.   

    The Association remains available to assist the international insurance and marine bodies where we can. The Advisory and Dispute Resolution Panel have continued their good work in the last year with their opinion on the “Longchamp” decision and remain available to provide the quality advice for which they have become renowned.

    Last year saw us enter the social media space with a LinkedIn page and I would encourage anyone to follow the Association in order to be updated on the relevant activities and opportunities.

    During the course of the year, and as we march towards the Association’s 150 year anniversary in 2019/20, we hope to complete the process of incorporation.  This is a process, which was started a year ago, and has taken considerable effort and I would like to thank Keith Martin for leading the charge on this. 

    I would like to thank Ann, Burkhard and Tristan in advance as well and the members of the Committee of Management for all the assistance and support and advice which I have received in the past year and which I will continue to require in the coming year.

    Willum Richards,

    Chair,

    Association of Average Adjusters

     

  • Chairman's Address 2018

    11 May 2018

    Download the Chairman's Address here

  • NEWS Release - AAA Market Seminar 19 April 2018

    24 April 2018

    Download the Press Release here

  • IUA AAA Market Seminar 19 April 2018

    20 April 2018

    Stelios Magkanaris, Fellow of the Association of Average Adjusters presented 'Abortive Repairs.  A new casualty or the unfinished business of an old one?' chaired by Keith Jones, Fellow of the AAA.

    Download the paper here

    Download the slides here