b'FOGHORNFOCUS: SHIPBUILDINGmore recently Eastern Shipbuilding About the Authorwhich took a direct hit from Hurricane Michael in October 2018in the U.S.Jamie Smibert, ACII, Associate of the Association of Average Adjusters Hull and Liability, Senior Broker, at Aon Commercial Risk Solutions is responsible under an Owners Controlled Insurancefor providing service to a wide array of U.S.-based Hull and Liability clients Program for a new trawler. The Londonthrough coordinating the marketing and placement within the U.S. as well as market has seen rating increase byinternational markets, closely liaising with Aons global network of offices. multiples of where it even a year agoJamie has nearly eight years of experience in the Marine Insurance industry, particularly for high value new buildshaving originally joined Aon on the London graduate scheme in 2011. Before relocating to New York in 2017, Jamie spent four years with Aon in Dubai servicing the Middle East (e.g. new cruise liners) which areregion including clients in the blue/green water sectors and Shipyards, Terminals and market capacity risks, meaning thatChartering operations. most insurers are required in order to complete 100 percent of the placementmost of these increased costs seem to be passed from the yard back to the end buyer. U.S. insurers do not tend to lead these high value new build projects and therefore marine construction, in tune with other marine lines, is still relative-ly soft in the U.S. and a popular line of business to write for insurers. As an owner buying a vessel, you have a choice between paying a yard for the construction (which would likely have the yards insurance cost included) or taking out an Owners Controlled Insurance Program which covers the prospective owner as the main assured with other parties named for their respective rights and interests. This allows the owner to control the insurances and can be particularly ben-eficial when purchasing a number of new builds across different yards as it allows: Choice of insurers thereby maintain-ing minimum security standards of as well as ensuring reputable insurers familiar with the shipbuild-ing space;Confidentiality;Bulk purchasing discounts.;Seamless insurance coverage across all builds; andComplete control of the new build program compared to individual yards that naturally are focused on their component part. If you would like any further in-formation or guidance, please contact me or Courtney Jones at Aon. I can be reached at 212-441-2199 or jamie.smibert@aon.com, and Courtney is reachable at 216-623-4158 or courtney.jones@aon.com. APRIL 2019FOGHORN 21'