Value of Education

KPEngineer said:
Interesting. I am not familiar with the role the underwriters play in this context.
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Having a vessel classed is a warranty item on marine insurance policies. Don't know that I have seen any policies where the society must be IACS or not, but I would hope that there are some out there. . . .
 
cmakin said:
Having a vessel classed is a warranty item on marine insurance policies. Don't know that I have seen any policies where the society must be IACS or not, but I would hope that there are some out there. . . .
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I saw that in a P&I policy a couple years ago. It put a lot in perspective for me. I never used to understand why they would fight me as the Flag state to keep me off the ship but they would spend a lot more money for class to attend than I would cost them. Once I read that their insurance was contingent on being in class it made sense. The financial exposure in not having insurance is light years worse than anything I could do to them.
 
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