24 MAY 2017 • FOGHORN HOW PVA BENEFITS YOU By Jen Wilk, Director, Public Affairs and Development PVA Working For You Advocating for Regulatory Changes that Impact Your Business 1.800.777.0714 toll free www.merequipment.com 8-500kW Marine Generators // Pull harder in the harshest marine environments // More copper & premium corrosion resistance // Superior motor starting & low operating temps // Better fuel economy & longer engine life // Easy to service & worldwide dealer support // Proudly made in America Let MCM manage your insurance so you can focus on your voyage MCM is a leading independent insurance brokerage based in the Pacific Northwest. Our marine practice group has more than 100 years of combined experience placing insurance and managing the marine industry’s unique risks. Whether we’re working with vessel operators, builders, repair facilities or suppliers, we create specialized solutions that meet each client’s needs. EMpLoyEE BEnEfits | ExECutivE BEnEfits | REtiREMEnt pLans insuRanCE advisoRy | pRopERty & CasuaLty Contact Damon L. Nasman at (206) 262-6375 or email damon.nasman@mcmnw.com www.mcmnw.com R ecently, PVA submitted comments to the U.S. Coast Guard in support of a rule- making to increase the property damage dollar thresholds for reporting marine casualties (accidents) and serious marine incidents. This regu- latory change was initiated by PVA’s advocacy efforts, urging Coast Guard to reexamine these outdated amounts. PVA’s comments encouraged the need for these dollar thresholds to be raised to account for inflation and more closely reflect today’s market values. The current dollar thresholds of $25,000 and $100,000 are more than 30 years old. The Coast Guard proposal would increase them to $72,000 and $200,000 respectively. How this Change Benefits You Raising this dollar threshold will provide you a real savings of both your time and money. By increasing the property damage dollar threshold, this change will decrease the number of reports you need to file and decrease the number of crew subject to drug and alcohol testing after such an event. This relief from unnecessary regulatory burden and a substantive cost savings to the industry is proven by the Coast Guard’s regulatory analysis in the proposed rule.