T&T: ABYC Standards - ABS & Lloyds and insurance

[Truelove39 at aol.com]

ABS, Lloyds Register, BV, et al are organizations for classification of  
vessel construction for insurance purposes, and even small boats may be  
classified. A boat "built to class" will have periodic inspections while under  
construction to assure quality and compliance with standards. A boat may also be  
classified even though not built to standards. Periodic inspections are done by  
the society's inspectors.
 
Insurance companies rely on these classifications to reduce risk and  
therefore premiums are lower than they would be if inspected only by CG or  
independent surveyors. This saves the owners a lot of money in premiums as well  as 
avoiding business disruptions. BTW, Lloyds is not connected to Lloyds of  London. 
 
It also makes the vessel more valuable, sort of like a pedigree. For  
instance, because our boat's hull was designed as a commercial fishing  vessel, we 
understand she was built to "exceed Lloyds Class +100A1." However we  do not 
have a certificate which says so, and I don't know if my insurer  considered 
that. Perhaps Al Golden will comment if I put "Insurance" in the  subject.  
 
These firms rely upon the input of societies such as the Society  of Naval 
Architects and Marine Engineers, of which I was once a  member, IEEE, ASTM, AWS, 
etc. for the research that goes  into development of their standards for 
classification. Much of the USCG  construction and equipment regs are rooted in 
ABS rules.

Regards,
 
John
"Seahorse"
 
>Who creates standards for smaller commercial vessels - ABS and  Lloyds?






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