A joint committee of the the IUA and Lloyd’s, to which the IUA provides the Permanent Secretary, concerned with the general wellbeing of the marine hull market. It reviews and updates the Hull Institute Clauses in consultation with the market. It has also set up Education and Marketing, Wordings and Technical, Statistics and Information, Maritime Industry Liaison and Finance sub-committees. It has established monthly market briefings to report on the work of the committee and to inform the market on current technical and safety issues. Administers joint hull understandings.
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The Joint Hull Committee in London, comprising representative underwriters from Lloyd’s and member companies of the Institute of London Underwriters, is responsible for the structure of the Joint Hull formula, which is a basis recommended for rating for hulls.