Annexe to Circular 28/10: Charterparty Clause - Financial Security in respect of Pollution
28/01/2011
Recommended pollution charterparty clauses were circulated to Members in 1990 in response to prospective oil pollution legislation in the United States of America and amended and consolidated in 1996 and 2008.
The Club's recommended pollution clause for tanker charterparties relating to COFRs has been amended. The updates address uncertainties regarding the scope of charterers indemnity under the original clause. The new clause text is provided in the Annexe to this circular
The Resolutions for consideration at the SGM on 20th January 2011 (ref Circular 25/10) were passed.
2011/1 - January, 2011 - Compliance with international sanctions and other mandatory legislation
UKDC - Circular 2011/2 - Indirect taxes
01/01/2011
2011/2 Indirect taxes - the approach of the association
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Report of the AGM proceedings and resolutions adopted.
October Review 2010
20/10/2010
A detailed explanation of financial and claims performance at the mid-year point is provided by the Club in its October Review 2010. Free reserves and capital at $419 million, improving overall claims position particularly on 2009 and also 2008, 2009 policy year combined ratio of 102 per cent and S&P rating A- (Outlook: Stable)
Circular 20/10 (October 2010) Review of Open Policy Years & 2011 Policy Year General Increase
19/10/2010
General increase for the 2011 policy year set at 5 per cent plus any increase in the cost of the International Group reinsurance premium for 2011 for the mutual Members. The standard deductible will remain at $5,000 for the 2011 policy year. Detailed explanation of the financial background to the Board's decisions can be found in the "October Review 2010" which accompanies this circular
US Coast Guard published its circular NVIC No 2-10 providing guidance on implementation and enforcement of VRP Final Rule requirements. A correction and further update to Annex 4 of Club Circular 12/10 is provided below. An amendment has been made to the previously circulated Donjon Smit contract. This circular refers to Club Circular 12/10 and a similar circular is to be issued by all Group clubs.
Limit on Special War Risks P&I cover for 2009 policy year remains US$500 million. "Bio-Chem" exclusion remains and a supplementary cover for "Bio-Chem" risks in respect of crew & 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 (TRIRA) of 2007.
Bolero: History of the Bolero Project and the International Group of P&I Clubs (the Group)cover.
30/09/2010
A substasive history of the Bolero project and the International Group's cover of liabilities arising in respect of the carriage of cargo Bolero and ESS
Circular 17/10 Annex - Certificate of Cover
29/09/2010
The compulsory insurance provisions of the amended Filipino Migrant Workers Act should come into force before the end of October 2010. P&I cover does not extend to all of the compulsory insurance provisions of the Act, nor cover seafarers directly. Manning & recruitment agencies need to evidence compliance with these compulsory insurance provision before POEA issues an overseas employment certificate.
The compulsory insurance provisions of the amended Filipino Migrant Workers Act should come into force before the end of October 2010. P&I cover does not extend to all of the compulsory insurance provisions of the Act, nor cover seafarers directly. Manning & recruitment agencies need to evidence compliance with these compulsory insurance provision before POEA issues an overseas employment certificate. This circular refers to previous circular 9/10 (June 2010).