Example: stock market

IMIA The International Association of Engineering Insurers TM

IMIA The International Association of Engineering Insurers TM NEWS SHEET 23 Nov. 2006 This is the 4th edition of the IMIA News Sheet. Any contribution you might like to post in the next issue would be most welcome. We are al-so looking for your local news, events and anything that might interest your IMIA col-leagues. 1. News from the Secretariat The Boston conference has been a great success and response by the Delegates was very positive. Suggestions made in the replies to our questions are being discussed and will be borne in mind when planning the next conference. The new item of Highlights of the National Reports by three countries was well re-ceived by the Delegates. The presentations have been published at under Country Reports.

A commercially operated Transrapid maglev train was also built in China a few years ago and connects the Chinese city of Shanghai with its airport 30 km (19 miles) away.

Tags:

  International, Insurer, Engineering, Association, Shanghai, Maglev, The international association of engineering insurers

Information

Domain:

Source:

Link to this page:

Please notify us if you found a problem with this document:

Other abuse

Transcription of IMIA The International Association of Engineering Insurers TM

1 IMIA The International Association of Engineering Insurers TM NEWS SHEET 23 Nov. 2006 This is the 4th edition of the IMIA News Sheet. Any contribution you might like to post in the next issue would be most welcome. We are al-so looking for your local news, events and anything that might interest your IMIA col-leagues. 1. News from the Secretariat The Boston conference has been a great success and response by the Delegates was very positive. Suggestions made in the replies to our questions are being discussed and will be borne in mind when planning the next conference. The new item of Highlights of the National Reports by three countries was well re-ceived by the Delegates. The presentations have been published at under Country Reports.

2 We will have three highlighted presentations also next year. The Working Group papers presented at the Boston conference have been published on the IMIA web site and also some of the guest presentations agreed for publication. The IMIA statistics on 2005 await some correction and will then be published. The list of Working Group papers 2007 with the presently registered names of chairmen and members is shown on All chairmen and group members have been in-formed of the composition of their group. We have a greater number of group members than before and this positive involvement of delegates is highly appreciated. The Minutes on the Boston conference can be seen on under Minutes of Past Conferences 2 The Tunnelling Code of Practice has been translated into Spanish by our Spanish dele-gate.

3 It has been published in the Spanish market via Unespa (Spanish Insurers Associ-ation) and is also on our IMIA website. The transfer of the secretariat has worked smoothly so far thanks to the excellent coop-eration of all involved. 2. News from the Executive Committee The EC met in Munich on November 16th. The working agenda was dealt with in great depth. Details will be seen in the Minutes on the EC meeting on The EC has also discussed the options for incorporating new members into the EC in an aim to attract younger and active delegates to cooperate in the steering of the associa-tion s affairs. The need for a more intense promoting of IMIA within markets, companies and associa-tions following proposals received from some delegates was discussed.

4 The next EC meeting is scheduled for 14th March 2007. 3. News from the Treasury Our Accounts are in a healthy position due to the increase in fees and also additional delegates 4. Delegate News J rgen Thiede has moved from Gerling to Z rich Insurance, Frankfurt. Steve Stacey has left JLT. We expect that someone else will be named as delegate of JLT in his place. Allan Harris will retire at the end of this year and we expect that a new delegate will be named by BMIA. 5. Web Site news The new web site designed by Louis Wassmer is being implemented by a service firm named elixir using technically advanced features and layout. Details of progress were discussed on 9th Nov. at a meeting with eilixir and various questions were discussed.

5 No major problems had to be dealt with. The new website is expected to become opera-tive early in 2007. We trust the new look and operational features will make the website 3 more attractive. 6. Breakout Sessions The summaries of the 5 topics discussed at Boston were put together and distributed to all Delegates. Following the session, delegates provided us with numerous new topics. The EC will select 5 topics for next year s Breakout Sessions and also intend to identify some suitable as a Working Group Topic for 2008. 7. Working Group Topics 2008 Although we have already a fair number of Working Group topics on record, you are welcome to suggest further topics of specific interest and this may as well be a smaller topic, if of broader interest.

6 8. Engineering Insurance Market news Siemens is holding their next Industry Product Update Forum for Insurers on power generation machinery (gas turbines) which will be held at Berlin 6th and 7th of De-cember. Implementation of the Tunnel Code of Practice in Sweden In view of upcoming large tunnel projects, information on the Tunnel Code of Prac-tice has been given to the major civil contractors and principals such as the Rail and Road authorities. The response has been positive and comparison with Risk Man-agement procedures already in force within these entities shows that, in general, they meet the requirements of the TCoP quite well. The procedure for a consistent follow up of risks noted on site tends to be a weak point and to be developed further.

7 European Society of Construction Law, ESCL's Annual Conference in Stockholm At this conference Anders Lindberg was invited to give a speech on insuring large risks and the challenges related thereto. Under the title "Large Projects - Insurable to what extent? What drives the premium?" comments were given on exposures and type of projects where certain cover might not be available and capacity is or might be limited. Furthermore an introduction was given to the Tunnel Code of Practice and the audience was made aware of that compliance with the TCoP will be a pre-requisite for insurance cover for all major tunnel projects in the future. A reference was given to our website for further information on Engineering Insurance.

8 Next annual conference of AMRAE in France The 2007 conference of AMRAE will be held in Nantes on January 24-26. AMRAE ( Association pour le Management des Risques et des Assurances de l'Entreprise) provides insurance and risk managers with an opportunity to exchange experience and information on all aspects of risk management. All industries and services are represented as well as players of the insurance industry. For the coming confer- 4 ence, the main topic of the conference will be 'new risk Engineering ' with contribu-tions like 'New tools for the Risk Manager', 'Risk mapping' etc. The Institute for civil Engineering of the University of Madrid organised a 2 day workshop two weeks ago on the analysis of risks related to tunnels.

9 Close to 100 participants from construction companies, designers, consultants, loss adjusters and insurance companies were actively participating. Among the numerous interesting technical presentations, Mr Montull from Munich Re, Madrid introduced a session showing the variety of losses in tunnels that happened recently, followed by a presentation by Oscar Treceno of Swiss Re presenting and introducing the Joint Code of Practice to the Spanish market. Both presentation were very well received and set the scene for interesting discus-sions with the audience. 9. Risk and Loss news The set-up of a hydro-electric complex Rio Madeira" in Brazil comprises the construc-tion of 2 hydro power plants named UHE Jirau and UHE Santo Antonio upstream of the city of Porto Velho.

10 Construction period is estimated to be 82 months and 59 months re-spectively commencing in 2007 and is supposed to include sluices to improve waterway traffic beyond Port Velho (not possible today especially during dry season). Total in-vestment estimated at USD 10 billion for the entire project. Each hydro power plant will have 44 turbines "bulb"-type with a capacity of 72 MW being the largest units built of this type. Both plants will have a total generating capacity of MW. Due to the vast amount of electromechanical equipment to be installed and the remote-ness of the construction site, a consortium of manufacturers (Alstom, Voith-Siemens, VA-Tech, GE and others) might be formed planning to construct a production facility close to site.


Related search queries