This circular informs Members that the Club can now provide an economically priced Charterers’ Liability buyback for the excluded risks on a voyage by voyage basis with flexibility on available limits.
Notice of Cancellation (“Notice”) is hereby given that, with effect from Noon GMT Tuesday 20th February 2024, the following coverage changes will be implemented in respect of War Risks coverage on all non-mutual business including but not limited to Charterer's Liability Cover, Non-Poolable extended and ancillary covers to Mutual entries and Fixed Premium P&I Cover.
Circular 03/24: War Risks P&I Excess Cover
Limit on Special War Risks P&I cover for 2024 policy year remains US$500 million with an exclusion of cover in respect of perils in Russia, Ukraine and Belarus, together with a buy-back sub-limited to US$80 million
This circular highlights recent key developments in the sanctions imposed against Russia by the UK, EU and US.
On December 11, 2023, five US agencies released a joint compliance note “Know Your Cargo” (“the Compliance Note”), highlighting tactics commonly deployed by malign actors in the transportation sector and best practices for the maritime and other transportation industries as well as examples of enforcement actions.
This circular informs Members of the approval by the International Group of P&I Clubs (the Group) of the eTEU eBL Platform.
Circular 19/23: Special General Meeting of the United Kingdom Mutual Steam Ship Assurance Association Limited
A Special General Meeting of the United Kingdom Mutual Steam Ship Assurance Association Limited will be held on 16th January 2024 in London, and Papers for the Meeting are enclosed.
This notice confirms approval by the International Group of the update to Secro Terms and Conditions.
Circular 17/23: United States temporarily authorizes transactions involving oil, gas and gold in Venezuela
The US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently issued 4 general licenses suspending certain sanctions in relation to transactions involving oil, gas, and gold in Venezuela.
This circular informs Members of the AGM proceedings and new Directors elected to the Members' Commitee.
This notice confirms approval by the International Group of the ICE Access Agreement (2023.01) ('the ICE Access Agreement').