The Marine Insurance industry, is mainly made of people from Ex-Seafarers (Master/Chief Engineer), Maritime Lawyers, Adjusters, Paralegals, Past Insurance Background and Naval Architects/Engineers.
Before I explain further, here's a quick info about the industry -
Marine Insurance is pretty similar to your car insurance. There are international regulations for vessels to purchase insurance to cover damages to their hull & machinery and also third party liability (eg collisions with other vessels, collisions with fixed object, oil spill/pollutions).
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My day to day job is somewhat similar to the television series CSI but instead of investigating murders,deaths,robbery etc, I would be carrying out investigations on shipping collisions or damage to vessel's hull & machinery, negotiating settlement with third party when collisions occurs etc all on behalf of insurance companies.
So like the very recent case in Australia, where I believe most of you have read in the news, about the vessel SHEN NENG 1 spilling oil into the Great Barrier Reef due to the vessel grounding. My company would be instruct by the Insured's Insurance company, to investigate the circumstances of the incident, organizing salvage companies to control/clean the pollution etc.
As all the above cost of the casualties (from fixing the vessel, cleaning the oil pollution etc) are claimable under the Insurance policy, the Insurance company would then rely on our report to reject or approve the shipowner's claim.
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Salary wise, I'm working in a very specialized field where in the world there are not more then 3 - 4 companies doing this. Salary wise its the safe to say its definitely very much above average.
hi minievo..
just wonder how many years of sea experience needed to get the kind of position..is there any chances for a HSE executive to enroll the marine insurans career? salary is beyond 10k?