Individual club retention increases to $9 million at 20 February 2013

This article examines the outlook for offshore wind farms in the United States, including the two types of offshore wind farm, regulatory compliance and more.

​Our Americas Members often deal with contracts of carriage subject to the US Carriage of Goods by Sea Act (“COGSA”) and the Harter Act, this article addresses some frequently asked questions.

A major strength of the International Group remains its pooling arrangements and the General Excess of Loss and Collective Overspill Programme (GXL programme), which provides shipowners with un-paralleled levels of cover.  All shipowners will be aware of the hardening reinsurance market and upward pressure on premiums.  Despite this, the longevity and relative stability of the GXL programme has enabled the Group to achieve renewal for 2020/21 on expiring rates for shipowners.  Of additional benefit, the US$2 billion excess of US$100 million placed in the commercial market has been confirmed for two years.  This will help provide a degree of reinsurance pricing stability for the next two years whilst maintaining flexibility to fund claims within the Pool.

The International Group Pooling and GXL Reinsurance contract structure for 2021 have now been finalised.