At a series of top-level meetings with regulators and Industry the Council of the International Association of Classification Societies (IACS) deliberated the way forward for classification societies in the wake of new public and political concerns regarding safety and protection of the environment. At the recent meeting IACS met with the European Commission (DGTREN), the IMO Secretary General and Industry leaders (BIMCO, Intercargo, Intertanko, ICS and underwriters) to liaise with all the stakeholders in the shipping industry about the way ahead. As a result of this inclusive approach major new policy decisions for 2003 were taken. Class is a critical element in the “safety chain”.