London Market marine insurers agree on new guidelines

Protocol document relates to casualty claims

London Market marine insurers agree on new guidelines


By Terry Gangcuangco

A new protocol document for handling shipping casualties in the London Market has been published.

In a release, the International Underwriting Association of London (IUA) said the new guidelines were agreed by the market’s marine insurers, with the document drafted by the International Group of P&I Clubs (IG) and the IUA / Lloyd’s Market Association (LMA) Joint Marine Claims Committee (JMCC).

The goal of the ‘Guidelines for casualty liaison between the JMCC and IG’ is to promote more effective communication between the parties involved in responding to marine casualty claims. According to the announcement, the guidelines establish a high-level structure to facilitate initial contact between individual P&I clubs and underwriters in the London Market.

Commenting on the protocol document, IG salvage committee chair Ben Harris said: “The guidelines are an important step forward, providing a clear framework for property underwriters and the International Group of P&I Clubs to work closely together in the interest of the assured in a casualty situation.

“By sharing information and knowledge we can ensure that all stakeholders are aware of what is happening and, to the extent possible, there is joined-up decision-making that avoids delay and ensures the best possible response to a casualty, especially where there is a risk to life, property, and the environment.”

The guidelines can be accessed via this JMCC page.

“There is clearly a huge benefit to all parties by having effective early engagement between insurers and shipowners involved in major casualties, particularly where pressing decisions are required,” said JMCC chair Amy Dallaway.

“There are many advantages in understanding the concerns of all interested parties, and this collaborative approach will result in clearer lines of communication and will assist in the efficient management of claims.”

What do you think of this move? Share your thoughts in the comments below.

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