Alistair Groom, CEO of Charles Taylor & Co, the managing company of the Standard Club, told delegates at a luncheon organised by the International Maritime Industries Forum in London last week that the majority of large claims - those that go beyond the P&I pool and enter the reinsurance layer - are caused by navigational error. "We cover claims up to about $7Bn, but those claims that go into our reinsurance layer, which could go up to $3Bn, more than 70% of those since 2000, are [due to] navigational [error]," Groom told Fairplay.
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