Shanghai Debuts Hull Insurance Survey&Loss Adjuster Company

China's first specilist hull insurance surveyors & loss adjusters company was debuted in Shanghai on November 30, which can boost the construction of international shipping center there.

Shanghai Hull Insurance Surveyors & Loss Adjusters Company Limited, with registered capital of CNY 3 million, is wholly owned by Shanghai Shipping Exchange (SSE). It primiarly provides inspection, valuation and risk assessment of vessels, insurance survey & loss adjustment and disposal of residual value upon claims for insured vessels as well as risk management advisory service.

The establishment of the company is a response to Shanghai municipal government's efforts to build Shanghai into international financial center and international shipping center. With more fair price assessment, Shanghai's vessel market will appear more attractive to vessel traders, said Wang Jianmin, vice president of SSE. Hull insurance survey and loss adjustment can bring buildup effect in insurance, banking, law and even vessel repairing sectors.