At their meeting in May 2017, the Directors closed the 2014 policy year. The surplus was transferred to the reserves. The 2014 policy year was closed and open years developing in line with expectations.
STOPIA and TOPIA have had their 10 years’ period review with participation of ship and oil cargo interests.
At their meeting on 30th January 2017, the Directors reviewed the basis on which special war risks P&I cover could be made available to Members in accordance with the proviso to Rule 5E, and determined that this cover should be made available to Members for the 2017 policy year in accordance with the terms of the attached Directors’ Resolution of 30th January 2017.
The Ballast Water Management Convention 2004 will enter into force on 8 September 2017. The International Group has prepared an update and guidance on compliance with this Convention and with US BWM Regulations. Further updates and guidance will be provided as and when necessary.