The International Group of P&I Clubs (IG Clubs) and the shipping line members of the Cargo Incident Notification System (CINS) have collaborated to produce a new set of guidelines for the carriage of Calcium Hypochlorite in containers. These new guidelines can essentially be considered "IMDG Code plus precautions" in that they include selected provisions from the IMDG Code plus additional precautions consistent with the science basis established in 1999 by consulting scientists advising the IG clubs. These new guidelines replace the Frequently Asked Questions (FAQs) produced by the IG clubs in 2010.
The Inter-Club New York Produce Exchange Agreeement 1996 (as amended Suptember 2011) ("the 2011 Agreement" provides a mechanism whereby liability for cargo claims arising under the New York Produce Exchange Form (NYPE) or Asbatime charterparties and/or contracts of carriage authorised under such charterparties can by swiftly and fairly apportioned between owners and charterers.
This circular informs Members of the approval by the International Group of P&I Clubs (the Group) of the e-title solution.
As previously notified, the International Group has bought "fall-back" cover, which is designed to respond to reinsurance recovery shortfalls that would result from the inability of US-domiciled reinsurers on the Group GXL and Hydra reinsurance programmes to make payments due to the continuing application of US primary sanctions, for the 2016/17 policy year.
On 2 March 2016 the United Nations Security Council ("UNSC") adopted Resolution 2270 (2016) ("the Resolution") in response to the nuclear test conducted by the Democratic missile by the DPRK on 7 February.
This circular provides further advice to Members regarding insurance cover arrangements following the partial lifting of Iran sanctions under the JCPOA.
The continuing application of US primary sanctions to US domiciled reinsurers participating in the Group's reinsurance arrangements means that Members remain exposed under Club sanctions' rules to the risk of partial reinsurance shortfall in respect of non-certified liabilities towards or incurred by Iranian interests. The Internatinal Group is working on a "fall-back" reinsurance protection to cover the default risk.