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 Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Marintec China Indicates Growth

Marintec China exhibition has grown by 14% since its last edition to cover 80,000 sq m with over 2,000 exhibiting companies  from 34 countries  defying the talk

Shipping emissions 17% of global CO2

Shipping could be responsible for 17% of global CO2 emissions in 2050 if left unregulated, according to a new scientific study conducted by European Parliament

Bunker Fuel Market Poised 460 million tons by 2020

Transparency Market Research launched its latest study on the global bunker fuel market, in terms of revenue and volume. The report predicts that the global

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Pipelines Pod Propulsion Port Authority Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0766 sec (13 req/sec)