Circular 4/18: Iran Sanctions
The decision by President Trump announced on 8th May, 2018 to cease the US participation in the JCPOA and to begin re-imposing US nuclear-related sanctions which were lifted to implement the JCPOA, is likely to have significant ramifications for maritime trade with Iran and the insurance of such trade.
Circular 3/18: Guidance to Members on the EU General Data Protection Regulation as relevant to the UK Club and its Members
This circular provides general guidance to Members on the EU General Data Protection Regulation as relevant to the UK Club and its Members
Circular 2/18: Maritime Labour Convention 2006 as amended (MLC) – liability for uninsured MLC liabilities
As Members will be aware from the Club’s Circulars 13/16 July 2016 and 16/16 October 2016 concerning the implementation of financial certification requirements in accordance with the amendments to the Maritime Labour Convention 2006 (“MLC”), the Boards of all International Group Clubs agreed that Clubs would provide the necessary certification.
Limit on Special War Risks P&I cover for 2018 policy year remains US$500 million. Bio-Chem" exclusion remains, and a supplementary cover for "Bio-Chem" risks in respect of crew and 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 (TRIPRA) of 2015
Into force from 1
A Special General Meeting of The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited (UKB) will be held on 18th January 2018 in Bermuda.
Circular 11/17: 2018 Policy Year
Club Circular 11/17: Group reinsurance rates reduced for all vessel categories Individual Club retention to remain at $10 million The attachment point on the Group GXL reinsurance programme, will remain at US $100 Hydra has maintained its participation on the ﬁrst layer Oil pollution cover limit remains at $1 billion for the 2018 policy year MLC cover will be renewed for a further 12 months from 20 February 2018 with an increased limit of US $200 million
At its meeting on 30th October 2017, the Board reviewed the financial position of the Club, the performance
Circular 5/17: BIMCO/ISCO standard spill response contracts, RESPONSECON and US RESPONSECON
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.
Circular 3/17: STOPIA 2006 (as amended 2017) and TOPIA 2006 (as amended 2017) – 2017 amendments
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.
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.