FAQs
Both jobs relates to a Warranty usually included in a insurance or other contract condition.
The industry acknowledge that the role of a Warranty Surveyor as a technical reviewer and approval of high value and/or high risk marine construction and transportation project operations more directly associated with the Oil & Gas structures.
Marine Surveyors on the other hand provide expert consultation within the shipping industry on the condition, construction and damage of ships, and the stowage and transportation of cargoes. They can also assess values for insurance claims, appraisals for sale, and serve as impartial witnesses.
Both roles require professions that has obtained the either or both the relevant shipping and insurance knowledge with extensive first-hand experience and/or structully trained in their field.
A Surveyor is the technical person appointed to provide opinion on an asset actual condition risk assessment, risk mitigation, pre-entry etc and to provide opinion to mitigate loss.
An Adjuster gets apointed during a loss event, is provided with the facts of the loss as reported also receives a copy of the policy declarations page, which lists the policy owner, identification of the insured property, the coverage, policy dates, deductibles, navigation limits, lay-up periods, premium amounts, lien holder information, etc.
Please refer to BNM circular on Adjusters ( Section 17 of FSA 2013) and the exemption on licensing.