THE JOINT WAR COMMITTEE ISSUES HULL WAR LISTED AREAS, 14 June 2018

Further to our blog in December 2015, the Joint War Committee in London has released the latest War Listed Area – JWLA-023 14 June 2018 – applicable to Hull War, Piracy, Terrorism and Related Perils. The only change has been to delete Jakarta from the Listed Areas, with all other areas remaining the same. Whilst it is customary for underwriters to issue ...

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Cyber Risks – Shipping needs a new Policy wording

We were invited to present to the 5th Asia Marine Insurance Conference in Hong Kong during Hong Kong Maritime Week on Cyber Risks in Shipping. Cyber Risks Presentation to Asia Marine Insurance Conference, November 2017 We took the opportunity to invite the audience of insurers to create a marine cyber product, focused on the shipping market.  We believe operators need a ...

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The “Longchamp” – a judgment with consequences?

General Average is commonly seen in insurance policies and other contracts in shipping industry. English law defines a general average act as any extraordinary sacrifice or expenditure voluntarily and reasonably incurred for the common safety and for the purpose of preserving the property in peril in a common maritime adventure. The York-Antwerp Rules (YAR) lay down the items allowable in a ...

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Oil and shipping markets on edge after South China Sea ruling – Our Comments

Full story from Reuters can be found here or at www.reuters.com “Global oil and shipping markets reacted nervously on Tuesday after an international arbitration court ruled against Beijing’s claims across large swathes of the South China Sea, fuelling geopolitical tensions in the vital waterway. A tribunal in The Hague, Netherlands, found China had breached the sovereign rights of the Philippines ...

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Singapore Insurance market – recent moves

As we “predicted” in our earlier blog, the ongoing consolidation would give rise to further changes and create opportunities for new leaders to emerge as well as new entrants to the Asian market continuing to focus on Singapore as their base. At the Lloyd’s new office opening party in Singapore recently, there were over 300 underwriters and brokers, many of ...

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Indian Ocean Piracy High Risk Area reduced from 1 December 2015

BIMCO has announced a reduction in the Piracy High Risk Area for transiting the Indian Ocean effective from 1st December 2015, per the below map. BMP4 (the latest advisory on anti-piracy measures) will now only be applicable when a vessel enters the reduced area, which is defined by the following boundaries: In the Red Sea: Latitude 15oN In the Gulf of ...

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