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Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
 KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and cover in respect of biological and bio-chemical weapons for the 2020 policy year.
War and terrorism risks
For 2020, cover for war and terrorism risks will remain available from the Club in accordance with the relevant proviso to Rule 3.1.1 of the Rules of Class I.
This cover will apply in excess of an insured vessel’s proper hull value, or $500 million, whichever is the lower amount, and will be for a limit of $500 million for 2020, the same figure as that which obtains for the current policy year.
Addendum I to this Circular sets out the terms of this excess cover. It will apply to all vessels insured on fully mutual conditions in accordance with the Rules of Class I, into the cover of which these terms will be deemed to be incorporated.
Cover in respect of biological and bio-chemical weapons
The International Group of P&I Clubs’ pooling facility to provide cover for certain war and terrorism risks, which are otherwise excluded because most War Risk Hull and P&I policies contain a bio-chemical exclusion, will continue for the forthcoming policy year.
The risks covered by virtue of the pooling facility are in respect of a Member’s liability:
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to pay damages, compensation or expenses in consequence of the personal injury to, or illness or death of, any seaman (including diversion expenses, repatriation and substitute expenses and shipwreck unemployment indemnity); and
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for the legal costs and expenses incurred solely for the purpose of avoiding or minimizing any other P&I liability arising from a bio-chemical event (other than under Class 1, Rule 2, Section 20, being the “Omnibus Clause”).
The limit of cover will be $30 million (the same as for 2019) any one event for each vessel.
Addendum II to this Circular sets out the terms of this cover. It will apply to all vessels insured on fully mutual conditions in accordance with the Rules of Class I, into the cover of which these terms will be deemed to be incorporated.
United States Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIPRA)
The US Terrorism Risk Insurance Act of 2002 (TRIA), has been further extended by TRIPRA up to December 31, 2020.
For eligible vessels, cover for such risks will be deemed to attract a premium of $0.0025 per GT per annum, and will be included in the vessel’s overall premium.
It should be noted that, under the terms of the extension of the original TRIA provisions to year-end 2020, an industry-wide cap of $100 billion will continue to apply to all claims recoverable on the basis of TRIA/TRIPRA provisions.
Should any Member have any questions as to the intention or extent of either special cover described above, the Managers will, as always, be pleased to respond.
Source: The American Club
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Thursday, 09 January 20
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Wednesday, 08 January 20
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- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- PTC India Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
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