For the 2016 policy year, the Club retention will increase to $10 million.The Group Pooling retention will remain unchanged at $80 million and continues to be insured by the Group captive, Hydra, and pre-funded by a premium contribution from each club. This premium is included in the reinsurance rates.
At their meeting on 1st February 2016, 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 2016 policy year in accordance with the terms of the attached Directors'Resolution of 1st February 2016.
At the Special General Meeting held on 16th January 2016 in Bermuda, the proposed amendments to the Rules of The United Kingdom Mutual Steam Ship Assurance Association (Europe) Limited (UK Europe) and of The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited (UK Bermuda) were approved.
From 1/1/2016 MSRC will no longer provide California Shoreline Protection ("CASP") and On Water Response Coverage services for vessels calling at the Port of Hueneme, California USA and/or transiting the southbound traffic lanes of the Santa Barbara Channel.
This circular provides details of the AGM of the Association which will take place in Hong Kong at 9am on 26th October 2015 and the arrangements for voting by proxy.
Members are referred to Circular No 5/15 that previously informed Members that non-tank vessels in transit through Western Alaska waters en-route to or from a US port are required to follow Alternative Planning Criteria (APC) in order to fulfil federal requirements.
China Ministry of Transport has published the "Revised Regulation" which became effective on 12th May 2015;China MSA has abolished SPRO approval process but retained the role of examination and supervision of SPRO operations; SPROs are required to ensure their compliance with all legal requirements including publishing their information on capabilities, resources and service area;
At their meeting in May 2015, the Directors closed the 2012 policy year. The small deficit was met from the reserves. Open years developing in line with expectations
Both Alaska Chadux and Alaska Maritime Prevention and Response Network (Network) have amended their contracts to conform with the IG VRP Guidelines. Members who sign up with the Network and/or Alaska Chadux from 20 February 2015 therefore no longer require additional cover.
