Beyond Claims History: Having A Proactive Risk Mitigation Strategy

Capt. Rex Witkamp
Jul 19
3 min read

How a Marine Annual Risk Insurance Assessment Strategy (MARIAS)™️ Transforms a Marine Run Loss Report

A Marine Run Loss Report is a detailed breakdown of every claim from the past 3-5 years. It's essentially a report card of everything that went wrong. But here's what is being forgotten: these reports are missing a crucial piece that could significantly impact the policy's renewal terms.

Traditional Marine Run Loss Reports tell only half the story. They document past problems but say nothing about what is being done to prevent future ones. That's where the Marine Annual Risk Insurance Assessment Strategy (MARIAS)™️ training certification and documentation reduces a luxury yacht's Risk Profile.

From Reactive to Proactive Risk Profiles

Most Marine Run Loss Reports read like accident reports—fire damage in 2022, mechanical failure in 2023, and so on. Marine Annual Risk Insurance Assessment Strategy (MARIAS)™️ training disrupts this negative list by adding current risk mitigation documentation to the reporting. Instead of just showing underwriters what happened, it demonstrates a comprehensive annual recurring strategy to mitigate risk to actively prevent it from happening again. The yacht is effectively demonstrating its commitment to reducing direct causes of marine insurance claims: fire incidents, mechanical failures, and human error.

When the report includes MARIAS™️ certification alongside historical claims, underwriters see a yacht that learns from industry trends and takes preventive action. This shift from reactive claims history to proactive risk management can fundamentally change how a risk profile is assessed.

Quantifiable Crew Competency Evidence

Here's something else that is overlooked: a yacht crew's competency directly impacts insurance risk, but traditional reports provide no way to document it. MARIAS™️ training fills this gap with detailed competency assessments and performance metrics that go far beyond basic certification requirements.

A yacht program's comprehensive evaluation process can document specific improvements in fire prevention, mechanical systems, preventative maintenance, and emergency response capabilities. When this data appears in your Marine Run Loss Report, underwriters will see measurable evidence of enhanced crew performance rather than making assumptions based on standard certifications.

Vessel-Specific Risk Documentation

Generic safety training doesn't impress underwriters because it doesn't address a yacht's specific risks. MARIAS™️ training is customized to each vessel's actual systems and operational profile, creating documentation that speaks directly to individual unique policy risk factors.

This vessel-specific approach means a Marine Run Loss Report can include training records that directly relate to each yacht's equipment, operational patterns, and historical maintenance issues. It's the difference between showing completed "safety training" and proving the yacht addressed the specific risks that are the causes of trending insurance claims.

Current Risk Reduction Metrics

While traditional reports focus on 3-5 year old incidents, MARIAS™️ provides fresh risk reduction data from the past 60 days. The program's documented 90% reduction in fire-related incidents among trained crews [1] gives underwriters current evidence of improved safety performance.

Consistent Annual Risk Management

Perhaps most importantly, MARIAS™️ creates a documented timeline of an ongoing risk management commitment. Instead of one-time training events, your Marine Run Loss Report shows consistent annual investment in crew competency and risk reduction.

This pattern of proactive risk management tells underwriters a yacht is serious about prevention, not just reaction. Documented proof of that story can be worth thousands in premium savings, and millions in avoidable claims prevention.