Simon Beale, underwriter of the KJ Coles syndicate at Lloyd's, has been elected chairman
of the Joint Hull Committee (JHC).
The JHC is a joint initiative by the International Underwriting Association of London and Lloyd's Underwriters' Association. Its role is to support and develop the role of the London hull insurance market. The JHC acts as a focal point for hull insurance issues while providing advice and representation to members on technical, legal, promotional and educational issues.
Simon Beale says he intends to build on the work that the JHC has been undertaking over the past twelve months by establishing a series of subcommittees to address technical issues and wordings, statistics and information, education and market information, liaison, and finance.
The Technical and Wordings subcommittee will assume responsibility for reviewing the planned development and revision of Institute wordings. It will monitor all technical items relating to hull business, including the assembling of regularly used clauses and wordings, and will give general market advice on the use of wordings. It will also provide input on such issues as brokerage and premium payment.
The Statistics and Information subcommittee will be responsible for compiling and publishing hull market statistics, and expects to be able to publish, during 2002, market-wide hull statistics relating to the 2001 and prior underwriting years.
The Education and Market Communication subcommittee will be responsible for upgrading the JHC website and for the organisation of educational seminars and meetings, while the Liaison subcommittee will seek to make maximum use of the diversified network of global contacts available to JHC members. Finally, the Finance subcommittee will oversee the properly budgeted activities of the JHC.
Beale says, "The JHC is committed to supporting the position of London as the premier market for hull insurance, while maintaining and developing contacts and co-operation with hull insurers worldwide as an essential element of what is a truly international business."