The additional premium system for tankers carrying persistent oil to or from the United States will continue for the 2011 policy year. Rates have been reduced by 12.5 per cent.
Limit on Special War Risks P&I cover for 2011 policy year remains US$500 million. "Bio-Chem" exclusion remains and a supplementary cover for "Bio-Chem" risks in respect of crew & legal
Circular 3/11: 2011 Policy Year
08/02/2011
Club retention maintained at US$8 million for 2011. Pooling retention increased to US$60 million for 2011. Oil pollution claims remain subject to a special limit under Rule 5B(ii) of US$1,000 million for owned ships. War risks P&I and US voyage surcharge premiums reported separately in Club circulars 1/11 and 2/11. Charterers P&I cover limited to sums recoverable from reinsurers for claims in excess of US$100 million.
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.
European Commission Investigation of the International Group of P&I Clubs