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
Circular 15/16: THE UK INSURANCE ACT 2015
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.
Amendments to the MLC to implement requirements for financial security will enter into force on 18th January 2017
Members are referred to Circular 9/15 informing 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.
Circular 10/16:New IG/CINS Guidelines for the Carriage of Calcium Hypochlorite in Containers
The International Group and the shipping line members of the Cargo Incident Notification System have collaborated to produce a new set of guidelines for the carriage of Calcium Hypochlorite in containers
Circular 9/16: Syria Sanctions
The European Union and the United States continue to apply trade sanctions against the Government of Syria
Circular 8/16: Review of Open Policy Years
Review of open policy years: 2013 policy year closed, Open years developing in line with expectations
Circular 7/16: Draft charterparty clause promoting the use of the Inter-Club New York Produce Exchange Agreement 1996 (as amended September 2011)
The International Group recommends that the 2011 Inter-Club Agreement should be applied to all NYPE/Asbatime charterparties. The Group has therefore drafted a charterparty clause to promote the application and incorporation of the 2011 Agreement into all NYPE/Asbatime charterparties.
Members are referred to our Circular 3/16 concerning Iran sanctions.This Circular is intended to update members on the latest developments in relation to the interim and longer-term solutions to the reinsurance recovery shortfall risk under the Group General Excess Loss reinsurance programme and Hydra retrocession programme.
Circular 1/16: 2016 POLICY YEAR
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.
Circular 17/15:US Vessel Response Plans - California Shoreline Protection - MSRC - So Cal Ship Services (SCSS), California
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.