New round of Vessel General Permit (VGP) to be enacted on the 19th December 2013.
Advisory on Final Rule relating to Nontank Vessel Response Plan requirements confirms 30 January 2014 VRP submission date.
Charterer incurs $138 million liability by breach of 'safe port' warranty - the Ocean Victory case
17/09/2013
The Ocean Victory case illustrates how charterers' liabilities for breaching safe port warranties can be very large. The claimant hull underwriters successfully claimed $137.7 million from charterers, which comprised $88.5 million for the loss of the vessel, wreck removal costs of $34.5 million, $12 million in SCOPIC costs pursuant to LOF 2000, and $2.7 million in lost hire.
Efforts by the International Group to obtain confirmation from flag states that they will accept club certificates of entry as evidence of financial security for liabilites under MLC 2006 continue to make progress.
Australian policy makers have a very low tolerance for pollution of the sea
The International Group has prepared a briefing note on the new US sanctions measures which is attached here.
The first call date of the UK Club's hybrid capital bond falls on the 22nd August 2013. Instead of calling the UK Club's hybrid capital on that date, the UK Club is seeking consent to the amendment of some of its terms, including a revised coupon and extending the first-call date to August 2018.
People claims
02/05/2013
The average cost of an illness claim has risen from US$19,000 in 2008 to US$28,000 by 2012 equivalent to a nine per cent annual increase. This continuing inflation in personal injury and illness claims focuses the Club's attention on loss prevention and advice which can be found in the
Annex V of the MARPOL Convention aims to eliminate and reduce the amount of garbage being dumped into the sea from ships
The United States Coast Guard maintains a useful resource page on ballast water management. To view the entire resource page and its various materials click the following link:
Survey Questionnaires for Members & brokers
21/03/2013
A key step this year in meeting the service standards and expectations of the membership will be to carry out a member and broker satisfaction survey. This will help identify those areas going well and those requiring improvement. An independent market research consultancy has been appointed and a questionnaire has been developed, which will be sent to all Members and their brokers in the first week of April this year.
Email notifications are now being sent providing the latest Certificate of Entry, corresponding debit notes, blue cards, renewal confirmations and COFR documentation to individual renewing Members of both UK P&I and UK Defence. The attached PDF files are valid as original documents when printed on a colour printer. If you have not received these essential documents, please call your usual underwriting contact without delay.
Immediate access to 2013 documentation
24/01/2013
As Members renew their entries for 2013 they will receive PDF copies of their documentation by email, either directly or through their brokers. You can print the documents contained in that PDF attachment on a colour printer and treat them as original documents. Please note that we will not be issuing hard copies of these documents. The renewed Certificates of Entry, debit notes, Blue Cards and COFR documentation can all be downloaded the instant they are produced by accessing the Members Area of our website.
EU Council approves Iran sanctions regulation on December 21, 2012, implementing Council Decision 2012/635/CFSP adopted in October 2012
UKDC Counterparty Risk - Claims for Damages
12/12/2012
Development of the Law; Causation; Remoteness; Remoteness and Shipping - The "Achilleas"; Accepting repudiatory breaches; Mitigation; Date that damages are assessed; Assessment of damages; Wasted expenditure as basis for damages; "Cost of Cure" basis of assessment; Summary
On the 9th November the Supreme Court in Bermuda also sanctioned the transfer of UK Club (Bermuda)'s business to UK Club (Europe). UK Club (Bermuda) will become the reinsurer of UK Europe and continue to be the holding company controlled by its members. The new structure will take effect from February 2013 and does not impact members in the 2012 policy year.
This notice pertains to Order issued on 31st October 2012 by the Chancery Division Companies Court under Part VII of the Financial Services and Markets Act 2000.
We have been informed by certain EEA state regulators that members who have a policy which has transferred from The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited to The United Kingdom Mutual Steam Ship Assurance Association (Europe) Limited under the Scheme, where the EEA state of commitment or state where the risk is situated is in Austria, Belgium, Czech Republic, Hungary, Norway, Poland and Sweden may under the local law of such state have a right to cancel their policy as a result of the Scheme as set out below:
Impact of Iran LNG sanctions
26/10/2012
The European Union Council's decision to prohibit the transport of natural gas from Iran extends to the insurance of such transport. It is likely to have an immediate impact on Members whether or not subject to EU jurisdictions. When the decision takes effect, the Club will not provide cover to any Member in respect of carriage of natural gas originated in Iran.
EU sanctions on Iran extend to natural gas
23/10/2012
On the 16th October an EU Council decision declared a prohibition on the transport of natural gas to Iran. The ban extends the insurance and reinsurance of such transport so will have impact on Members whether or not subject to the EU jurisdictions. When the Decision takes effect, the Club will be prohibited from providing cover to any Member in respect of carriage of natural gas originated in Iran.