ABOUT SEA HORSE INTERNATIONAL

Sea Horse International has operated successfully for more than 20 years. We are an experienced team with expertise in verifying, managing and mitigating losses arising from Ocean Marine claims. We specialize in handling large claims in a manner that is tailored to the needs of our clients. Our aim is to radically reduce your losses anywhere in the world thanks to our know-how in the marine insurance field.

Nowadays, fraud is a major factor in large losses in the insurance field. When your company has a large claim abroad, whether in the Middle East, Africa or Europe, just having a local surveyor there to protect your interests will not ensure that you are safe from fraud. With today’s attitude of “Let’s take advantage of rich foreign insurance companies”…..you need an expert who knows the area and speaks the language.

Here are just a few examples of our services and some cases to illustrate them :

Insurance fraud

A cargo arrived in Jordan. The assured claimed that there was a shortfall in the cargo and that damage had been sustained for a total claim of 1 million dollars. The surveyor issued his report confirmimg the loss. The underwriters brought us in and we investigated the situation. We discovered the fraud and the surveyor subsequently confessed that his report was issued under duress from the assured. We were able to save the underwriters 1 million dollars.

Trouble shooting and marine assistance

The M/V Avra K was chartered to carry cargo between Africa and Koper (Slovenia) and experienced engine trouble causing the vessel’s owners to terminate the voyage in Mauretania. Sea Horse International was mandated by the cargo’s underwriter to resolve the situation in the best interests of the cargo. The Mauretanian Authorities refused to allow the cargo to be transferred to another vessel so we decided to tow the M/V Avra K to Koper, and an agreement was signed between the vessel’s owner and a tug company in August 1999. Sea Horse oversaw all the arrangements and the cargo was delivered to the consignee.

Negotiating

Sea Horse International negotiated a salvage award for a grounded ship with the Turkish Salvage Organisation. We were able to reduce the award from 2 million dollars to 500.000 dollars. The clients, of course, were very pleased.

Surveying and Salvage

A cargo arrived damaged in a Turkish port. The local surveyor reported that the cargo should be sold as salvage. Travelers’ Insurance assigned Sea Horse International to handle the case. After canceling the salvage, repacking the cargo and shipping it to the consignee we saved the underwriters 500.000 dollars.

Lost and Found

A lash barge loaded with a 1.1 million dollar cargo sank outside the port of Alexandria in Egypt. The Port Authorities could not find the barge and called off the search. Travelers’ Insurance called us in and we found the barge, salvaged it and repacked the cargo. Thanks to our efforts, we saved the underwriters about 800.000 dollars.

Investigations

A ship arrived in the port of Alexandria, Egypt, carrying seven containers of ladies’ clothes and accessories, insured for 14 million dollars. The containers were found to be empty on arrival and Sea Horse International was called in to investigate the claim. We were able to prove that it was fraudulent insofar as the containers had, in fact, been shipped empty. The underwriters did not pay the claim and the owners sued them for bad faith. The case was dismissed because fraud had been proven, and the owners found themselves accused of criminal fraud.

Sea Horse International represents Great American Insurance Companies, as their agent, in France, Egypt and Southern Italy. We have also represented them on a regular basis in many Middle-Eastern and African countries.

If your company has a large claim, Sea Horse International can help you. Our headquarters are situated in Monaco, which gives us the advantage of being centrally placed for speedy access to anywhere in the world. We have another office in Egypt which specializes in the Middle-East.

We look forward to helping you with your next large claim, or if you have any problems to be solved, and we are confident that once you have used us you will continue to do so.

Thank you for your attention,
Captain Assem Elbendary
President