MAY 2017 • FOGHORN 25 HOW PVA BENEFITS YOU Navigating your risks, day and night. As the owner of a passenger vessel you face tough decisions every day, from hiring qualified crew to making sure your vessel is in prime condition. At Aon, we spend day and night thinking about your maritime risks so buying insurance doesn’t have to be another tough decision. We work with you to develop creative approaches and customized solutions that deliver more efficiencies, improved profitability and greater value. For more information, please call 1.800.730.7053 or visit passengervessel.com/member-resources.html#insurance Risk. Reinsurance. Human Resources. Navigating your Aon Risk Solutions Marine In this current political climate and President Trump’s executive orders regarding regulation, you may wonder if making this change through regula- tion would be somehow be in jeopardy. PVA’s comments addressed just that stating, “The proposal is fully con- sistent with President Trump’s two recent executive orders. They pose no obstacles whatsoever to rapid fi- nalization of the proposed rule…. The proposed rulemaking does not con- stitute a ‘new’ regulation. It simply amends an existing rule.” And, it will “produce savings (not costs) to both the private sector and the federal gov- ernment, and because it will have abso- lutely no negative impact on the total incremental cost of new regulations for the year.” PVA urged the Coast Guard to further increase their suggested dollar threshold amounts to $100,000 for reporting a marine casualty(rather than the proposed $72,000). Because of the 1:4 ratio, this will result in a revised threshold of $400,000 for a serious marine incident. Additionally, PVA urged the Coast Guard to include a provision providing for regular, periodic adjustments of these thresh- olds to account for future inflation, so that the thresholds don’t become obsolete over time and so that the Coast Guard doesn’t have to initiate a rule- making to change them. PVA member companies also got involved in the discussion. PVA’s comments were developed by the input of PVA member operators on the PVA Regulatory and PVA Safety and Security Committees.Also, several PVA member companies submitted individ- ual comments to the docket, explaining how this change would impact their business. Thanks to all PVA members who were involved in developing PVA’s comments and those who also submitted their own comments to the rulemaking docket. PVA is working for you. n Thanks to all PVA members who were involved in developing PVA’s comments and those who also submitted their own comments to the rulemaking docket. PVA is working for you.