Oakeshott Welcomes New Int'l Cargo Clauses

Monday, March 16, 2009

A discussion paper will be presented at the Moscow Rendezvous Conference for the Russian Insurance and Reinsurance Market on March 25 2009, by George Grishin, Director of Oakeshott Insurance Consultants.

Mr Grishin compares the changes between the 1982 and 2009 clauses, and also outlines the position of cargo insurance wordings in the CIS insurance markets. He considers the changes in the new 2009 Clauses and discusses their appropriateness for the situations that prevail in East and West.  He welcomes the extensions of the transit clause, and the new amendments to the exclusions relating to packing. Greater clarity regarding the beneficiary under the insurance is also a helpful step for all parties.

Mr Grishin raises topical questions on the piracy issue in the light of recent events in Somalia. He also suggests areas that might be considered for further clarity amongst international users in future redrafts. Finally, he concludes that, on the whole, the new Clauses represent a great step forward - benefitting Assureds and providing greater clarity on important facets of the insurance contract.

Copies of the full discussion paper, and a clause comparison schedule in both English and Russian versions are available free of charge from Oakeshott Insurance in London (email wecanhelp@oakinsur.com) Tel ++207 680 1230.

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Aker Evaluating Future of US Shipyard, ASC

Norway's Aker ASA may decide to merge or otherwise restructure two listed units that have seen strong benefits from the U.S. shale oil energy boom, Aker's Converto

Almarin Buoys for GNL del Plata in Uruguay

Almarin has supplied fourteen buoys to OAS constructor for the maritime beaconing of the works of GNL del Plata project in Uruguay. Almarin Spanish AtoN supplier

Mercury Marine produces 75,000th Verado L6 Outboard

Milestone comes less than 10 years after launch of platform.   Mercury Marine, the world leader in commercial and recreational marine propulsion and technology,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2427 sec (4 req/sec)