Why Insurance Companies Embrace Thermography, No Surprises
It is not surprising then that more companies and ships are turning to thermography to save money, that the US Congress is considering legislation to increase the operational safety of ships at sea which may well include biannual ship inspections by qualified thermographers, or that insurance companies are increasingly suggesting or requiring the insured to perform regular inspections.
For those few of us, long in the marine thermography business it is no surprise then that the UK's Maritime and Coastguard Agency issued MGN 132 (M+F) in 1999 stating in part:
"It is apparent from the number of reported incidents that ships personnel have, at times, been placed in unnecessary danger. In order to identify potential overheating situations in electrical equipment, owners are advised to consider the use of 'thermal-imaging techniques as a means of verifying the security of electrical connections and pin point problem areas at an early stage."
It is not surprising then to find insurance companies hiring thermographers directly and requiring the insured to allow inspections to ensure the adequate maintenance and safe operating conditions exist on the assets insured.
Most people think of insurance companies as merely those contracted to be financially responsible when something goes wrong. If an incident requires a payment, the company simply raises your insurance, however, some feel a moral responsibility to keep others safe, keep their rates down, provide excellent service, and see greater profitability for their companies. Those with such a philosophy require or provide these services, those people with other insurance companies ought to have regular thermographic inspections if only to prevent those incidences which insurance covers and which destroy businesses and from time to time take human life.
Cost Savings
Some thermographic inspection companies calculate the dollars saved by comparing and contrasting the cost of a Run-To-Failure model again a Repair-As-Found model showing the clients the dollars saved not in a worst case scenario, rather in a typical scenario where equipment regularly fails.
Inspections that compare these costs are most helpful because they not only give the crew action points and identify the condition of the equipment but also allow for profit justification with the C-Level management so they can show their companies how much money is being saved, what costs are being avoided by this inspection.
While a land based electrical fault may cause between $400 and $5000 in damage, on a ship, a small fire in the Motor Control Center may cost a million dollars when all costs are calculated. In both locations small fires have a way of turning into large conflagrations which periodically cost human lives and total loss of the facility or ship.
Insurance is all about risk and risk avoidance. Thermographic analysis is the best way to ensure you are not regularly filing insurance claims and receiving insurance premium increases. For insurance companies it is the most cost effective cost savings mechanism they have found and a great cost reduction service to their clients.
About the Author
A former Adjunct Professor at SDSU College of Sciences, Dr. Newcomb was the Principal Investigator on numerous projects, advised on numerous patents, and is a patented inventor himself. He continues to train thermographers and was recently appointed President of Marine System Inspection. He is a member of Mensa. For more information see http://www.marinesysteminspection.com or call (619) 501-1800
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