Friday, 27th May 2016

EUROPEAN COMMISSION'S REVIEW OF THE INSURANCE BLOCK EXEMPTION (“IBER”)

The European Commission (the "Commission") is currently reviewing the insurance block exemption regulation (the "IBER"), which expires on 31 March 2017. The IBER is of general application to certain types of insurance co-operation and collaboration arrangements, providing them with a "safe harbour" from the EU competition rules.
At the time of the Commission's previous review of the IBER in 2009, before its renewal in 2010, there was some confusion in the market about (i) the relevance of the IBER to the Group's business and (ii) the difference between the IBER and the individual exemption granted to the Group for the International Group Agreement (the "IGA") following the Commission's decision in 1999 on the compatibility of the Group's arrangements with EU competition law. Given the possibility for further confusion to arise, the Group wishes to reiterate that the current review being undertaken by the Commission in relation to the IBER is not relevant to the Group's arrangements and so will not affect the Pooling Agreement or the IGA – even if the IBER is allowed to lapse in 2017.

18 Jun 2020

Updated Industry Guidelines on the Carriage of Seed Cake in Containers

The carriage of Seed Cake cargoes continues to cause confusion and the potential for mis-declaration remains high - with the consequent risk of fire on board container ships. Seed Cake is the term used for pulp, cake, pellets, expellers or other cargo where oil has been removed from oil-bearing seeds, cereals or commodities with similar properties, including all such types of seed meal. It is principally used as an ingredient in animal feeds.
22 May 2020

International Group clubs respond to the US Government sanctions guidance for maritime and related industries.

On 14 May 2020 the US issued a Global Maritime Advisory (“Guidance”) aimed at a range of industry sectors including marine insurers such as P&I clubs, shipowners and charterers.