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The Insurance Committee & current issues facing the industry. Mr. Ken Marshall, Chairman, INTERTANKO’s Insurance Committee. INTERTANKO’s Insurance Committee. Aims & Objectives Terms of Reference Membership Meetings Reporting History & Development. Hull Marine.

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the insurance committee current issues facing the industry

The Insurance Committee & current issues facing the industry

Mr. Ken Marshall,

Chairman, INTERTANKO’s Insurance Committee

intertanko s insurance committee
INTERTANKO’s Insurance Committee
  • Aims & Objectives
  • Terms of Reference
  • Membership
  • Meetings
  • Reporting
  • History & Development
hull marine
Hull Marine
  • Joint Hull Committee – IHC
  • Capital Providers
  • Relations with Underwriters & Brokers
cargo insurance
Cargo Insurance
  • No consideration for quality
  • Age is relevant
  • Subsidy is from good to bad
p i insurance
P & I Insurance
  • Current situation
  • International Group (IG)
  • IG Renewal
  • Pooling
  • Liabilities
oil pollution liability compensation
Oil Pollution Liability & Compensation
  • CLC (shipowners)
  • Fund Convention (cargo interests)
  • Third Tier
  • Sharing of liability between owners/cargo
  • Revision of conventions ???
i o positions on clc
I-O Positions on CLC
  • Support improvements within existing conventions
  • Support voluntary compensation increase for small tankers
  • Maintain owners’ defences against breaking liability limits
  • No unilateral schemes
  • Revision only to be considered after effects of agreed changes can be seen
i o views on revision discussion
I-O views on revision discussion
  • Welcomes oil spill statistics project
  • Shares the views of many states that oppose CLC revision now
  • Wishes to maintain industry unity & discussion
  • Focus on the interest of the victims
  • If revision comes then all elements in play, even channelling etc.
eu penal sanctions
EU penal sanctions
  • Draft EU Directive establish penalties for ship source pollution
  • Stipulates no insurance for fines
  • INTERTANKO active on the issue
war risk
War Risk
  • Areas & Rates
  • Few Casualties
  • Underwriters’ attitude guided by perception
terrorism
Terrorism
  • Exposure
  • Cover available
  • Problem areas
  • Possible solutions