The Insurance Committee

1
The Insurance Committee current issues facing
the industry

• Mr. Ken Marshall,
• Chairman, INTERTANKOs Insurance Committee

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INTERTANKOs Insurance Committee

• Aims Objectives
• Terms of Reference
• Membership
• Meetings
• Reporting
• History Development

3
Hull Marine

• Joint Hull Committee IHC
• Capital Providers
• Relations with Underwriters Brokers

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Cargo Insurance

• No consideration for quality
• Age is relevant
• Subsidy is from good to bad

5
P I Insurance

• Current situation
• International Group (IG)
• IG Renewal
• Pooling
• Liabilities

6
Oil Pollution Liability Compensation

• CLC (shipowners)
• Fund Convention (cargo interests)
• Third Tier
• Sharing of liability between owners/cargo
• Revision of conventions ???

7
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

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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.

9
EU penal sanctions

• Draft EU Directive establish penalties for ship
  source pollution
• Stipulates no insurance for fines
• INTERTANKO active on the issue

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War Risk

• Areas Rates
• Few Casualties
• Underwriters attitude guided by perception

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Terrorism

• Exposure
• Cover available
• Problem areas
• Possible solutions

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