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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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Friday, 06 September 24
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- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- The University of Queensland
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
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