Media Release 17 March 2023

GUIDELINES PUBLISHED FOR MARINE CASUALTY CLAIMS

New guidelines have been agreed by marine insurers in the London Market to help improve collaboration in the handling of shipping casualties. A protocol document seeks to promote more effective communication between different parties involved in responding to resulting insurance claims. It has been drafted by the IUA / LMA Joint Marine Claims Committee (JMCC) and the International Group of P&I Clubs (IG).

Amy Dallaway, Chair of the JMCC, said: “There is clearly a huge benefit to all parties by having effective early engagement between insurers and shipowners involved in major casualties, particularly where pressing decisions are required. There are many advantages in understanding the concerns of all interested parties and this collaborative approach will result in clearer lines of communication and will assist in the efficient management of claims.

The ‘Guidelines for casualty liaison between the JMCC and IG’ establish a high level structure to facilitate initial contact between London Market underwriters and individual P&I clubs. They also outline minimum details that should be sought for each case.

Ben Harris, Chair of the IG Salvage Committee, said: “The Guidelines are an important step forward, providing a clear framework for property underwriters and the International Group of P&I Clubs to work closely together in the interest of the assured in a casualty situation. By sharing information and knowledge we can ensure that all stakeholders are aware of what is happening and to the extent possible, there is joined up decision making that avoids delay and ensures the best possible response to a casualty, especially where there is a risk to life, property and the environment."

Copies of the guidelines are available from the Joint Marine Claims Committee page of the IUA website.

Ends

Contact:
Scott Farley, Director of Communications, International Underwriting Association
Tel: 0207 617 4449
Mobile: 07921 699 218
E-mail: scott.farley@iua.co.uk

Notes to Editors:
About the IUA
The International Underwriting Association of London (IUA) is the representative body for companies in London providing international and wholesale insurance and reinsurance coverage. Its mission statement is to secure an optimal trading environment for London insurance companies. The IUA’s London Company Market Statistics Report shows that overall premium income for the company market in 2021 was £35.654bn. Gross premium written in London totalled £30.114bn while a further £5.540bn was identified as written in other locations but overseen by London operations.

About the International Group
The 12 P&I Clubs which comprise the International Group (the “Group”) between them provide marine liability cover (protection and indemnity) for approximately 90% of the world's ocean-going tonnage. Through the unique Group structure, the member Clubs, whilst individually competitive, share between them their large loss exposures, and also share their respective knowledge and expertise on matters relating to shipowners liabilities and the insurance and reinsurance of such liabilities. Each Group Club is an independent, not-for-profit mutual insurance association, providing cover for its shipowner and charterer members against third party liabilities arising out of the use and operation of ships. Each Club is owned by its shipowner and charterer members, and its operations and activities are overseen by a board of directors, or committee, elected from the membership. The day-to-day operations of the Clubs are handled by professional managers, either "in-house" or external, who are appointed by and report to their Club board/committee. The Clubs cover a wide range of liabilities, including loss of life and personal injury to crew, passengers and others on board, cargo loss and damage, pollution by oil and other hazardous substances, wreck removal, collision and damage to property. The Clubs also provide a wide range of services to their members including claims handling, advice on legal issues and loss prevention, and they regularly play a leading role in coordinating the response to, and management of, maritime casualties. https://www.igpandi.org/

About the LMA
The Lloyd's Market Association (LMA) exists at the very heart of Lloyd's, a world-leading global marketplace for complex risk where solutions to challenges are delivered every day. All 51 Lloyd's managing agencies, with a total market stamp capacity of approximately £48bn in 2023, and all Lloyd's members' agents, are members of the LMA. We represent our members' interests to organisations including governments, regulators, and the market's central supporting body, the Corporation of Lloyd's. We provide professional and technical expertise in areas ranging from model policy wordings to the implementation of innovative technologies. We connect with our members to identify and resolve issues facing the market, and work in partnership with Lloyd's and the other market associations to influence initiatives and outcomes. We operate the market's most comprehensive technical education service, the LMA Academy. For more information visit: www.lmalloyds.com