Fills gap arising from 1992 CLC regime that compensates only for oil pollution spillages from the cargo or bunkers of laden oil tankers. The Convention extends civil liability to pollution caused by oil spills from the bunkers of general cargo ships. The Convention follows 1992 CLC in most respects and includes compulsory insurance. The strict liability of CLC has already been extended to non-tankers and tankers in ballast in the UK by the Merchant Shipping (Salvage and Pollution) Act 1994.

Standard clauses that are used with the MAR 91 form. IHC reflects current practices, the increased importance of the International Safety Management Code, flag states and classificiation societies in connection with ship safety. The pollution hazard clause has been extended. The new clauses emphasise the consequences of breaching policy conditions. Part 1 sets out the Principal Insuring Conditions, Part 2 sets out additional frequently required clauses including Clauses 40 to 44 (4/4ths collision liability, fixed and floating objects, returns for lay up, general average absorption and additional perils otherwise excluded in Part 1) only apply when agreed by the underwriter. Part 3 contains claims provisions.

First International Chamber of Commerce anti-crime bureau and has observer status with Interpol and cooperates with governments and law enforcement agencies generally. Its task is to prevent fraud in international trade and maritime transport, reduce the risk of piracy, assist law enforcement agencies, protect crews and investigate insurance losses. See IMB PIRACY REPORTING CENTRE.
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To answer to the problems of international maritime frauds a non-governmental body known as the International Maritime Bureau was formed in London in 1981. Four preventive functional services are being offered by the Bureau (i) education service to supplement members’ present training programs on the prevention of maritime fraud; (ii) providing a general information through the regular publication of a bulleting containing latest developments in various parts of the world ; (iii) advisory services on whether potential trading partners are known to have previously been involved in fraudulent or suspect practices; and (iv) authenticating trading documents for banks and others that may need such assistance.

okUnited Nations Agency for setting standards on ship safety and prevention of oil pollution connected with which it is responsible for international conventions. It has headquarters in London. The UK’s annual subscription is based on ship’s tonnage on the UK and Red Ensign registers.

Concerns safe operation of ships and pollution prevention. ISM is mandatory under the International Convention for Life at Sea. It applies to: passenger ships (including high speed craft), ro-ro passenger ships, oil tankers, chemical tankers, gas carriers, bulk carriers of 500 gross tonnage or above, high speed cargo craft of 500 tonnage or above, cargo ships and mobile offshore drilling units of 500 tonnage or above. The ‘Company’ (shipowner, manager or bareboat charterer) must establish and implement a safety management system and obtain a Document of Compliance (DOC) every five years that is also audited annually. Non-compliance means automatic termination of the hull and machinery policy (Clause 13 International Hull Clauses). Policies usually protect the interests of innocent mortgagees for a limited period. See INTERNATIONAL SAFETY MANAGEMENT CODE ENDORSEMENT.

Applies to cargo policies to exclude cover whenever the cargo is carried in non-ISM Code certified vessels or whose owners do not hold a Document of Compliance at the time of loading. The exclusion does not apply where the policy has been assigned to an innocent third party who has bought the cargo in good faith.

An agreement between motor liability insurers and own damage’ insurers applicable to accidents involving vehicles registered in different EC states when one is insured for ‘own damage. Regardless of liability, the liability insurer and the own damage insurer share the ‘own damage’ indemnity on a fixed basis. The agreement reduces the costs inherent in an international claim.

Formed in 1999 by the merger between the Institute of London Underwriters and the London and Reinsurance Market Association to bring together marine, non-marine and reinsurance interests. The IUA is the world’s largest representative body of wholesale and reinsurance. The IUA runs the Technical and Underwriting Executive Committee to which other committees, including the Clauses Sub-Committee and the Pollution Group, report.

Represents the interests of aviation insurers in 31 different countries, providing a central office for the circulation of information between members. The Union also seeks to provide a better understanding and conduct of international aviation including space risks. Membership is open to pools, groups or associations whose participants are engaged in aviation insurance on a direct or reinsurance basis. In exceptional circumstances aviation insurance companies may be considered for membership.
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An organization founded in 1934 by leading aviation underwriters with he objectives (i) to constitute an official body to speak and negotiate on behalf of aviation Insurance interests ; (ii) to provide a central office for the circulation of information between members; (iii) to co-operate for the better regulation and conduct of aviation; and (iv) generally to do all such things as may be beneficial to the development and conduct of aviation branch of Insurance.