2012

OUTLINEShips carrying oil as cargo are now required to comply with new vessel response planning criteria (APC) when visiting Alaskan portsCertification from the Alaska Maritime Prevention and Response Network and a contract with Alaska Chadux  must be evidenced in vessel response plansAlaska Chadux contracts do not comply with the International Group guidelines, liabilities under that contract may arise that are outside P&I cover

2009 policy year closed; Open years developing favourably; Free reserves and Hybrid Capital increased to US$486 million; Combined ratio of 97 per cent

OUTLINEGUARDCON does not represent a recommendation or endorsement by BIMCO or the International Group of P&I Clubs for the use of security guards on board vessels.GUARDCON addresses key issues...

OUTLINE:  Members who can trade lawfully with sanctioned countries are reminded that financial sanctions may restrict the Club’s ability to protect them in the event of a P&I incident.Members are recommended to review Rule 5V (Sanctions risks) reproduced below.In addition to following Club advisories on its website, Members should take their own measures to establish whether intended voyages are lawful and insurable.

Limit on Special War Risks P&I cover for 2012 policy year remains US$500 million.“Bio-Chem” exclusion remains and a supplementary cover for "Bio-Chem" risks in respect of crew & legal costs limited at US$30 million continues to be available.A portion of these covers is provided in accordance with the requirements of the US Terrorism Risk Insurance Act of 2002 (Act), as amended by the Terrorism Risk Insurance Program Reauthorization Act (TRIRA) of 2007.

Club retention maintained at US$8 million for 2012.Pooling retention maintained at US$60 million for 2012.Oil pollution claims remain subject to a special limit under Rule 5B(ii) of US$1,000 million for owned ships.War risks P&I and US voyage surcharge premiums reported separately in Club circulars 3/12 and 1/12.Charterers P&I cover limited to sums recoverable from reinsurers for claims in excess of US$100 million.

• The additional premium system for tankers carrying persistent oil to or from the United States will continue for the 2012 policy year. • Rates have been reduced by 30 per cent.