The London Branch restructure takes effect from 20 February 2013. Members affected by the restructure should note the revised contact address for all claims correspondence set out below. Members located in EEA may have a right to cancel their policy under local laws. This circular relates to the ‘Notice to Policyholders – UK Transfer’ of 3rd September 2012.
OUTLINEThe Resolutions for consideration at the SGM on 22nd January 2013 (ref Circular 21/12) were passed.TO THE MEMBERS
SPECIAL GENERAL MEETING REPORT
At the Special...
OUTLINEA Special General Meeting of The United Kingdom Mutual Steam Ship Assurance Association (Bermuda)Limited (UKB) will be held on the 22nd January 2013 in Bermuda. Papers for the meeting are...
OUTLINE: This circular refers to the earlier Circular 17/12 “Regulations of the People's Republic of China on the Prevention and Control of Marine Pollution from Ships”; A revised set of FAQs is attached to this circular taking account of the revised Detailed Rules although the further MSA Notice anticipated in circular 17/12 has not yet been published; If a new MSA Notice requires amendments of these attached FAQs a new set of FAQs will be issued in a future circular; The IG spill response contract issued with circular 17/12 has been revised further and is also attached to his circular.
The European Commission’s summary of the regulation on carriers' liability for passengers (PLR) is attached to this circular.Operators of vessels registered in an EU/EEA member state should obtain their certificate evidencing insurance from that stateOperators registered in non EU/EEA states can obtain such certificates from a number of EU states listed in this circular.This circular relates to previous Circular 18/12
OUTLINEThe EU regulation on carriers' liability for passengers (PLR) takes effect on 31 December 2012The previous Circular 11/12 outlines the insurance and certification requirements of...
OUTLINEThe China MSA has revised its Detailed Rules on ship pollution response with effect from 14thSeptember 2012The Group has issued a revised model contract for contracting spill response...
OUTLINEReport of the AGM proceedings and resolutions adoptedReport of the Scheme of Creditors’ meeting and resolution adoptedTO THE MEMBERS
General Increase for the 2013 policy year is 7.5 per centMutual Premium Discount of 2.5 per cent on the total mutual premium for the 2011 policy yearAny increase in the cost of the International Group reinsurance will be passed on to the mutual Members.The standard deductible will be increased to $7,500 for the 2013 policy year.Release calls reduced on open policy yearsAn explanation of the financial background to the Board’s decisions can be found in the "October Review 2012" which accompanies this Circular.
OUTLINEThe International Group has drafted a pollution indemnity clause for charterparties in consultation with BIMCO.In the face of strict liability for both owners and charterers, it seeks to allocate...
US oil spill response organisations’ (OSROs) standard service agreements often include an addendum that does not comply with Group guidelines. Members agreeing to such an addendum may incur liabilities that are outside Club cover. National Response Corporation (NRC) is the latest OSRO to adopt such a non-compliant addendum to its service agreements. Group guidelines on VRP service agreements and the addendum are published in Club Circular 6/09
OUTLINEThis circular provides details of the AGM of the Association in Paris on 29th October 2012 and the arrangements for voting by proxy.
PLR takes effect from 31 December 2012. It applies to all ships carrying more than 12 passengers and either registered in or trading to an EU/EEA Member State. Certification of insurance for liabilities up to SDR 250,000 per passenger under the Athens Convention will be required by the PLR. The Club will be issuing non-war Blue Cards to facilitate owners’ application for State certificates in advance of 31 December 2012. Group clubs do not provide primary war risks cover. Arrangements for alternative means of compliance with the PLR requirement for a war risks Blue Card are currently under discussion within the International Group. Further developments should be announced shortly.
OUTLINEThe 1 July deadline for full implementation of Iran sanctions under EU Regulation 267/2012 was confirmed on 25th June 2012.The exemptions for pre-existing contracts and any provision of P&I cover related to movements of Iranian oil will cease on that dateAll vessel types are potentially affected by these sanctions and the corresponding restriction of cover as the prohibition extends to bunker stems of Iranian origin.Circular 4/12 – ‘Sanctions regimes’ explains the restrictions on cover in relation to Iranian oil cargoes, including those where transportation is permissible for non-EU regulated shipowners
This Circular amends Circular ref. 1/12 regarding application of 50 per cent rebate of the US tanker voyage additional premium. The 50 per cent reduction on premium rates for voyages involving loading or lightering of persistent oil cargo in the US will not be restricted to LOOP and the four designated areas described in Circular ref 1/12. The reduction will continue to be applied to other lightering areas approved by the US Coast Guard on the same basis as prior to Circular 1/12
Members must notify the Club at the earliest opportunity if they intend to load nickel ore from Indonesian or Philippine ports, and may prejudice cover if they fail to do so; This circular details the information that needs to be advised to the Club; This information is being compiled to identify those areas, ports & shippers that present particular difficulties, e.g. inaccurate cargo declarations; It remains the Members responsibility to ensure full compliance with the IMSBC Code; Mandatory notification applies only to cargoes of Nickel Ore to be loaded in Indonesia and the Philippines, and not to any other bulk cargoes
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...
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.