Limit on Special War Risks P&I cover for 2014 policy year remains US$500 million.
Circular 1/14: 2014 Policy Year
28/01/2014
Individual Club retention to remain at $9 million; The Group Pool retention increased to $80 million; Hydra's coinsurance share of the first layer to remain at 30 per cent; Group Pool to remain in three layers but adjusted for the increased Pool retention; 5 per cent of the market reinsurance placed in two layers excess of $100 million to $1.1 billion on a three year fixed basis; US Voyage surcharge reduced to nil; Reinsurance rates per gross ton increased for all ship categories
NTVRP Implementation Date - 30 January 2014; Deactivation of Old Non-tank Vessel Response Plans on 31 January 2014
Circular 26/13: Iran Sanctions Update
17/01/2014
The Resolution for consideration at the SGM on 16th January 2014 (ref
Circular 24/13: Revised Terms of Entry 2014
09/01/2014
The 'US Oil Pollution Clause' is deleted reflecting the reduction of US voyage additional premiums to nil. This circular refers to previous circulars 8/12 and 4/13
The Alternative Planning Criteria (APC) for non-tank vessels visiting Western Alaska are now published at
OUTLINE:
Second VGP effective December 19, 2013: Vessels to file NOI via EPA's Electronic NOI system by December 12, 2013 or 7 days before discharge to continue coverage
OUTLINE: This circular refers to Circular 18/13 United States Vessel Response Plans. Copies of the appropriate MSRC and NRC contracts are attached as PDFs to the website version of this circular. US Coast Guard has issued a set of FAQs on Non Tank Vessel Response Plans (NTVRP).
The Group clubs have terminated their retainer agreements with MSRC and NRC. Non-tank vessel operators should contract directly with MSRC or NRC in future. Both MSRC and NRC provide spill response contracts that conform with Group guidelines. MSRC have withdrawn their dispersant addendum to spill response contracts making purchase of extended cover unnecessary. NRC offer a fee-paying option to opt out of their addendum and avoid exposure to additional liabilities.