Mike Austin receives ANZIIF Lifetime Achievement Award

Being recognised for doing a job he loved was not something Mike Austin expected after retiring from a long career in the marine insurance industry.

But winning this year’s ANZIIF Lifetime Achievement Award highlights his dedication to the profession, as well as the respect and admiration he earned from his peers along the way.

“This award celebrates, as much as anything, my going to work for the same job for 50 years, which was a job I thoroughly enjoyed,” says Austin, who joined CB Thompson Marine in 1974.

“So, it's really nice to be acknowledged for something that wasn't very hard for me to do.”

A life at sea

Austin’s love of sailing and fishing inevitably led him to a career at sea.

Growing up in the south of England, he began working as an apprentice with the merchant navy, moving his way up and passing successive exams until he earned his foreign-going master's ticket.

“Then I met a young lady in England, and we decided to get married, and I found that if I transferred to work on a ship in New Zealand, I would be able to get more sea time and more quickly rise the ranks,” says Austin. “And so that's what I did. We moved to New Zealand, and then I looked for work onshore.”

That search led him to a fortuitous meeting with industry expert and CB Thompson Marine founder, Captain Barry Thompson. That meeting resulted in Austin’s career as a marine surveyor, which spanned five decades. 

“When I joined forces with Captain Barry Thompson in 1974, I brought my seagoing experience as a ship's officer in the merchant navy,” Austin recalls.

“I knew all about the storage and carriage of cargo, and I had a background in fishing boats. I’d also done a lot of small boat and yacht sailing, so I had a lot of experience in yachting.

“I realised that all those skill sets were absolutely perfect for the job, except I didn’t know about insurance. So, I set about to study and learn all I possibly could about marine insurance, and the more I learned, the more fascinating I found it, and I have found that to be the case all my life.”

It’s a fascination that is borne from its history, Austin explains, with marine insurance one of the oldest forms of insurance. 

“Marine insurance makes so much sense to me,” he says. “The idea of goods going to sea on a ship is a perilous thing to do —  and so the principle of marine insurance is all about sharing the risk. 

“Underwriters in those days would fund a vessel setting out on a voyage. If lost, those losses would be covered by the profits from successful voyages. This principle extends to key marine insurance concepts such as salvage, general average, and particular average.”

No mountain too high  

Among his many professional achievements, outside of work, Austin has literally conquered the highest pinnacles, spending several weeks hiking through the Himalayan mountains with his wife-to-be.

“Along with sailing, I’ve always been very enthusiastic about the outdoors and have done a lot of long treks,” he says.

“The most challenging one was a hike through the Himalayas across northern India, which I completed some years ago. That was probably the best. It took me over five of 5,000-metre Himalayan passes.”

This required determination, but Austin had developed that skill throughout his career. When he first started in insurance, he says he knew little about marine law and insurance claims.

“My biggest technical achievement has been simply to become thoroughly familiar and acquainted with the marine insurance laws and policies and procedures so I could have a very good understanding of what would be required by underwriters to consider a claim,” he says.

Working with Captain Barry Thompson set him on a path of learning that he has been able to use and share throughout his career.

“When I started as a marine surveyor 50 years ago, every time I asked Barry a question, rather than sit me down and give me his answer, he would give me a book,” says Austin.

“So, I taught myself all that I could possibly learn about marine insurance, the Marine Insurance Act and the Institute of London Underwriters’ clauses, and clauses of other jurisdictions as well.”

Career achievements

In 1985, CB Thompson Marine was acquired by the predecessors of Sedgewick, where Austin was appointed marine manager. During his time with CB Thompson Marine, the business grew from four to fifteen people.

It also became the New Zealand Agency for Lloyd’s of London, the leading market for marine insurance. This expanded the company’s global connections and enhanced its international reputation. 

As CB Thompson Marine’s founder, Captain Barry Thompson, prepared for retirement, Mike took on the role of joint owner and director. His leadership included training employees in the specialised skills of marine loss adjusting.

Throughout his career, he has been an active member of several professional associations.

He has also served as the New Zealand Region Director of the International Institute of Marine Surveying, a panel member of the Arbitrators and Mediators Institute of New Zealand (AMINZ), a Master and Board Trustee with the Spirit of Adventure Trust and a board member of Lloyd’s Register of Shipping in New Zealand.

Austin has provided his expert knowledge to managing many major marine claims, including the 2011 loss of the cargo vessel Rena on Astrolabe Reef, where he led inquiries, provided counsel, and authored detailed reports.

“My career achievements are very much mixed up with jobs I've done, and they aren't altogether my own achievements,” he says.

“I was one of many involved in some claims where ships have caught fire or ships have stranded or ships have sunk, and I've been involved in their recovery from sinking.

“We became very skilled at getting boats back off the rocks or back to sea or floated when sunk.”

Adjusting to retirement

Austin believes the insurance industry faces the same kinds of challenges as society.

“Climate change, advances in technology and the threat of cyber-attacks are all issues insurers need to stay abreast of,” he says. “But I also think insurers must continue to recognise marine as a specialist branch and to support the marine insurance specialists in every way possible. 

“We have specific policies that have different wording and different interpretations from non-marine work, and the claims that arise are often complex and different from what insurers encounter in the general field,” he adds. 

And, despite seeing happy customers grateful for the support offered by their insurers, Austin is concerned that the wider industry suffers from an unfair reputation.

“At Sedgwick, where I’ve recently worked, they circulate a notice of all the letters, emails, and phone calls of appreciation they’ve received from clients and consumers,” he says.

“They’re incredible to read because people are so appreciative of the work done by surveyors, loss adjusters, and assessors.

“The problem is that the media always focuses on the bad stories, and people love to share their negative experiences. But, somehow, all the good stories — the ones about the help that’s provided — rarely reach the public.”

Austin says helping people to better understand their policies, as well as promoting the positive side of insurance is a good place to start. This is something he does in retirement as a volunteer at the Citizens Advice Bureau.

“I’ll admit that I'm finding it very difficult to be retired,” says Austin. “I have a lot of other interests to keep me busy, but I do miss my work and colleagues and being on top of the claims coming in.”