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Member risk review

The LP department takes a multi-faceted approach to ensuring the quality of the club’s tonnage and support for its members. In addition to carrying out ship risk reviews, the club also reviews the shore side elements of a member’s organisation and asses its effectiveness using the member risk review (MRR) programme.

The Standard Club is still the only IG club which implements a member risk review for all members on entry.

The MRR programme was initially launched in 1993 and consisted of auditing the member’s management systems according to ‘minimum operating standards’. The process was formalized in 2009 and a checklist was developed based on the Tanker Management Self-Assessment guidelines.

2014 saw a significant change in the MRR checklist in favour of a more risk based approach.  The areas assessed during a MRR review are:

  • management;
  • office/sea staff recruitment and training;
  • marine/safety operations;
  • ISM;
  • technical management;
  • cargo/commercial operations.

Each area contains specific questions designed to provide a thorough assessment of an organisation’s strengths and weaknesses, to really understand how their operations are conducted. The answers are rated using a specific scoring system and compared to a reference quality frame work.

This process is designed to provide the underwriting department with uniform data upon which to base their decisions. Where deficiencies are found, the LP department advises on ways to improve the organisation’s performance.

Ship owners or managers who wish to join The Standard Club will automatically undergo an MRR within 30 days of attachment. In circumstances where a higher than average number of claims or a single very costly casualty have occurred, another MRR may be undertaken. Follow-up MRRs are held to monitor a member’s progress with the implementation of recommendations made by LP department.