Shipping industry's vulnerabilities to Y2k failures

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

The Millennium Project Guide for the Shipping Industry has a pretty comprehensive list of vulnerable equipment and systems.

-- regular (zzz@z.z), May 24, 1999

Answers

Interesting, good quality site. Wish other industrial groups were as thorough. Some of the equipments listed though were accurate w/r the id number and manuf. source, but did not indicate whether they were compliant or not - depends on which one you pick ...

Quote from LLoyds of London:

Hull Insurance

The London market's Joint Hull Committee has stressed that losses arising in connection with the Year 2000 and other date recognition periods may not be considered a fortuity and may not be recoverable under insurance contracts. The Committee has further stressed that it is incumbent upon insureds to act at all times with due diligence as if they were uninsured by taking all necessary steps to avoid or mitigate anticipated losses.

...(trimmed) ..

Other hull markets have also introduced millennium clauses. For example, the Norwegian hull market has introduced a clause which obliges insureds to ensure that manufacturers of electronic equipment etc. give written confirmation that it is millennium compliant. If manufacturers cannot, or will not give such confirmation, insureds are obliged to have the equipment tested to determine whether it is compliant. If the tests reveal that the equipment might not function properly, insureds are obliged to take steps necessary to solve the problem. Insureds who take proper steps to prevent functional problems will be covered. >>

Sounds like the marine insurance companies are taking it VERY seriously, but, if you test "with due diligence" you can expect to be covered.

-- Robert A. Cook, PE (Kennesaw, GA) (cook.r@csaatl.com), May 28, 1999.


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