Following swiftly on the heels of the recent Ocean Victory judgment by the UK Supreme Court, the BARECON revision team has reviewed the insurance clauses of this widely used contract.
Russia’s announcement that it will close access to the Kerch Strait which connect the Black Sea and the Sea of Azov has triggered a reaction within the London insurance market.
Information available here: http://www.fin.gc.ca/treaties-conventions/treatystatus_-eng.asp
The BIMCO Standard General Average Absorption Clause, for use in marine insurance policies, was updated in 2017 to give effect to the revised York-Antwerp Rules 2016. Further modifications have now been made to streamline the basis for determining insurers’ payments. Details are set out below toget... Please follow the link to continue reading.
