Damage to Hull (DTH)
The Club can cover charterers' liabilities for physical loss or damage to a vessel, such as by stevedores or off-specification bunkers, as well as contributions towards general average and/or sue and labour expenses.
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Review of the Year 2022
The Club’s financial position remains strong with free reserves of $488 million as at 20 February 2022. The Club continues to comfortably meet all its regulatory capital requirements and remains in the highest AAA band of Standard & Poor’s capital model.
The Club’s correspondent in China, Huatai Marine, provide in their latest Circular No: PNI  05 details of this summer’s fishing ban along China’s coastal areas.
Circular 04/22: Review of Open Policy Years
At their meeting in May 2022, the Directors closed the 2019 policy year. The deficit was transferred to the reserves.
Circular 03/22: General Trade Licence dated 17 March 2022 – Reporting of vessel calls to Russia and transiting Russian territorial waters
On 17 March 2022 the UK Government published a General Trade Licence in part to clarify earlier amendments to the UK Russia (Sanctions) (EU Exit) Regulations (the “Regulation”). Specifically, the licence addresses the issue as to whether it is lawful under the Regulation for insurers and reinsurers domiciled or operating from the United Kingdom to provide insurance for vessels calling at Russian ports or transiting Russian territorial waters.