Members are informed that BIMCO and ISCO (the International Spill Control Organisation), have launched two standard contracts, RESPONSECON and US RESPONSECON, for the hire of specialised spill response services and equipment.
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.
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.
China has ratified the Nairobi International Convention on the Removal of Wrecks 2007 and the Convention will enter into force in China from 11 February 2017. The Chinese MSA published a notice on the application procedure for WRC Certificates.
Proposed amendments to rules and Directors' remuneration.Please attached papers for a Special General Meeting to be held on 19th January 2017 in Bermuda.
This circular sets out details of the arrangements that will be made by the Club to assist owners to comply with the MLC financial security requirements applicable from January 2017
The UK Insurance Act 2015 will enter into force on 12 August 2016. As an update, the eight Clubs in the International Group whose rules are subject to English law took a common approach to contracting out of certain aspects of the Act.
