50th IMIA Conferencea review of half a centurypromoting best practice

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The Founding of IMIA

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October 196819 Managers from 11 countries attended the first meeting

Dr. Heinz Braun, the first Chairman of IMIA, on the left

The founding Members of IMIA

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Dr. BRAUN Germany BULLOCK Great Britain

Dr. GERATHEWOHL Germany ELLIS Great Britain

Dr. MIEZNER Austria HOPKINS Great Britain

KRAUS Austria SMITHSON Great Britain

LIBOTTE Belgium ARVEMAN Sweden

VIELLE France ZAUGG Switzerland

KLAU Italy Dr. ELSENER Switzerland

KLAUSEN Norway KLEMENTIEV USSR

LARSEN Norway HARADA Japan

MOBRÅTEN Norway

1968

Industrial trends at the time of founding IMIA

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Repeated steam turbo generator

losses

Frequent boiler explosions

Industrial growth in the 1960ies

IMIA - International Machinery Insurance Association

• English: "International Machinery Insurance Association"

• German: "Internationale Vereinigung der Maschinenversicherer"

• French: "Association Internationale d'Assurance Technique"5

Topics of the 1st IMIA-Meeting

• Premium volume reported by the national associations in 1967: US$ 179 million

• Suggestion to provide market details in National Reports

• Mutual information on local insurance conditions• Clarification of definitions, e.g. Explosion in

Machinery and Fire policies• Inconsistent use of Deductibles

Focus on extent of cover

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Venues of other conference meetings

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1974 – Boston, USA

Venue of the 10th anniversary

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1978 – Munich, Germany

1983 – Draft of a first IMIA Brochure

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Venues of other conference meetings

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1984 – San Francisco, USA

Venues of other conference meetings

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1987 – Rome, Italy

1984 1985 1986 1985 1986

Premium

Change%

S-Fluc-tuatio

n 83/84

Claims Premium

Change%

S-Fluc-tuatio

n 83/84

Claims Premium

Change%

S-Fluc-tuation 83/84

Claims Loss ratio in %

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15AustriaBelgiumDenmarkFranceFed Rep. of Germany Great BritainItalyJapanNetherlandsNorwaySwedenSwitzerlandUSAUSSR

40.0421.604.82

117.10538.09608.1165.57

120.8130.4021.8036.7067.69

695.306.11

-10.5- 7.9-33.3+ 3.2- 5.6- 3.6+ 1.5- 0.1- 2.9- 5.9- 0.9- 5.8+ 4.7+ 1.3

+17.3+14.2+12.4+ 9.5+11.0+13.6+14.5- 0.8+10.9+ 9.3+ 7.5+10.9

0+10.8

32.4112.555.01

68.50392.5366.247.3434.4820.4616.5526.7344.05471.30.65

40.7721.607.21

120.60518.19646.0567.81

124.1729.8522.4138.3071.61

776.206.09

+ 1.80

+49.6+ 3.0- 3.7+ 6.2+ 3.4+ 2.8- 1.8+ 2.8+ 4.4+ 5.8+11.6- 0.3

+ 1.30

+ 6.0+ 9.1+ 7.5+ 2.7+12.3+ 4.2+ 8.3+ 9.0

6.7+ 8.1

0+ 4.9

31.9612.555.84

79.94386.83394.7441.2451.4014.8918.6224.6444.67

412.871.62

62.6323.6516.15

171.18761.70835.3892.89

201.7057.9433.2452.55

109.85986.09

8.19

+ 53.60

+124.0+ 41.9+ 47.0+ 29.3+ 37.0+ 62.4+ 94.1+ 48.3+ 37.2+ 53.4+ 27.0

+ 34.5

-28.1-26.3-25.3-24.5-28.1-14.5-22.5-34.5-27.0-14.218.9

-29.90

-17.7

54.9817.198.87

97.00558.95546.1569.1072.1249.2321.3031.6265.26

438.951.00

78.4-80.966.374.761.160.841.449.983.164.362.453.226.7

87.872.754.956.773.465.474.435.869.464.160.259.444.512.2

2,374. - 1.4 - 2,490 + 4.9 - 3,413 + 37.0 - 61.1 59.3

Venues of other conference meetings

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1989 – Copenhagen, DenmarkGroup photo of the 35 Delegates from 16 countries

1991 - IMIA Secretariat under great change!

Allianz in Munich hosted and managed the IMIA secretariat from 1968 until 1991.

1991: transfer of the office to Great Britain, the IMIA secretariat to be managed by National Vulcan in Manchester.

Archie Watt became the new General Secretary of IMIA

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1992 – 25th Conference Anniversaryin Munich at the Four Seasons Hotel

M. ILLNER President C. FRASER-ANDREWS Great BritainW. ZINDEL Chairman H. JENKINS Great BritainDr. D.GAVERBI Vice Chairman M. COLAUTTI ItalyDr. I ZOLLER Secretary General E. RICCIO ItalyA. WATT Secretary H. GOTO JapanK. D. SINFIELD Treasurer Y. HORIE JapanA. TURCZYN Austria F. KAWATE JapanP. MORITZ Austria G. WICHERS NetherlandsM. HERMANS Belgium B. KROKEIDE NorwayO. VANDEVELDE Belgium B. LAMARK NorwayH. FOGED Denmark N. NIKOLOGORSKI RussiaH. REYMANN-CARLSEN Denmark R. M. SHURAVIN RussiaV. K. TAVAKKA Finland A.MARTIN MARTIN SpainM. BARDON France A. LINDBERG SwedenH. DE RAEMY France L. ENGSTEDT SwedenF. KETHERS Germany H. POIT SwitzerlandDr. G. LICHTENWALD Germany A. BÜNZLI SwitzerlandDr. W. SCHIMMING Germany R. KELLENBERGER SwitzerlandH-B. SCHITTEK Germany G. KREH USAK. CONRAD Germany W. THORNHILL USA

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1993 - Madrid, Spain

IMIA WG Papers presented:• Status of Industrial All Risks covers including

Engineering• Advance Loss of Profits Insurance• Waste incineration - Underwriting and Technical

Aspects• Development of Industrial Gas Turbines

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1995 – Helsinki, Finland

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The Executive CommitteeDr. Zoller, A. Watt, H.-B. Schittek, V. Tawakka, H. de Raemy, K. Sinfield

Analysis of Aging Plant and Equipment

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Years 1997 to 2000• 1997:

BOT (Build, Operate and Transfer) projects and the new „Lenders Clauses“, IMIA Brochure. Conference in South Africa.

• 1998: conference @ Interlaken, Switzerland1st IMIA Website, 1st News Report, 30th anniversary,

• 1999: Versailles conferenceno printed copies any more, the Millennium Change,Chairman Anders Lindbergh

• 2000: Munich conferenceSecretariat transferred to the homeof the Secretary Archie Watt, Gross premium at 4.5 billion US$

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Years 2001 to 2003

• 2001 Sydney, Australia – Exposure to Cyber risks

• 2002 Rüschlikon, Switzerland– Tunnels, underground works,

gas turbines and entrepreneurial risks

• 2003 Stockholm Sweden– Interesting claims examples– Highlight on the IMIA website

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2004 Conference in Rome, Italy

• How to attract more active involvement of Delegates?

• Discussion Groups were formed

• Sketch by Oscar Treceño and Detmar Heidenhain

• Introduction of the IMIA logo

• Joint Code of Practice forRisk Management of Tunneling Works

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Change of dress code: 2004 and 2005

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The year 2005• Russia hosted the 2005 IMIA

Conference

• Anders Lindberg handed over the Presidency to DetmarHeidenhain

• IMIA published the first “News Sheet” which since then appears regularly three times a year

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Boston, USA 2006

The President: Mike Petruzzello from HSBFourth conference hosted by the USA 64 Delegates from 20 countries

Introduction of the “Highlights of Country Reports”

Secretariat is handed over from Archie Watt toUtz Groetschel

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The year 2007

The website service for IMIA moved from Britain to a Swiss firm. First redesign of the website

Japan hosted the 40th

IMIA Conference

A rather wet day for the visit of Tokyo’s shrines

Introduction of the “Fathering concept”

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Highlights of the years 2008 to 2010• 2008: Great Britain hosted the Conference in

Gleneagles, Scotland– Theft of contractor’s plant and equip-

ment + Britain’s counter measures– IMIA Information Brochure

• 2009: Turkey hosted the Conferencein Istanbul– Several member countries reported problems

following difficult economical circumstances– report on current tunnelling project under the Marmara See– IMIA Chairman: Neil Clutterbuck succeeds Detmar Heidenhain

• 2010: Germany: Conference in Berlin– Panel Discussion - first time introduced in the agenda– Video taking of a few presentations

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Highlights of the years 2011 to 2013

• 2011: Amsterdam Conference / The Netherlands– First IMIA Photographic Competition

+ IMIA Calendar– Videos taken for an “eye catcher”– Oscar Treceño follows Neil Clutterbuck

as IMIA Chairman

• 2012: Conference in Rio de Janeiro / Brazil

• 2013: Introduction of IMIA Academy– First Engineering Insurance Training

Course held in Berlin in March– India hosts the IMIA Conference in New Delhi– Presentation of the revised IMIA website

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Highlights of the years 2014 and 2015

• 2014 - IMIA Conference in Mandelieu / Cannes, France

– Various topics– Tunnelling still a great topic:

The Miami Tunnel Project

• 2015 - Conference in Merida,Mexico

– hosted by the Mex. Ins. Association– The Break-out sessions have

become a much appreciated activity of Delegates

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The year 2016• IMIA Conference hosted by Qatar Insurance and

Reinsurance Company in Doha– IMIA presented its 100th Working

Group paper!(on excavation support)

– Main topic: cyber risks

• November 2016: first IMIA Academy Engineering Course held in Singapore

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A few review comments ahead of the 50th IMIA conference

• 50 years and still going strong!• IMIA is the 1st point of call when Engineering Insurance

stakeholders need support• IMIA has gained 1st class reputation in

– promoting best practice in Engineering Insurance– enhancing the awareness of Underwriters– offering state of the art training opportunities– providing a top grade Website open to members and visitors

• IMIA conferences: a unique forum focussing on knowledge, technology, UW, claims and risk management

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During 50 years hundreds of delegates and EC-members have contributed to IMIAs success: Thanks to all of them!

50th IMIA ConferenceHalf a century promoting

best practice31