STANDARD CLUB EXPLAINS P+I CLUB COVER RULES IN LIGHT OF GULF OF OMAN ATTACKS

On 23rd July, Insurance Maritime News reported that the Standard Club has issued guidance on club cover, risk mitigation and legal implications on contractual issues that members may face as a result of the recent tanker attacks in Fujairah and the Gulf of Oman.  Apparently, third-party liabilities, however, are excluded from club cover if caused by the use/engagement of certain ‘weapons of war’ that are specifically named in the club’s rules or any ‘other similar weapons of war’.  P&I liabilities arising from terrorism are excluded and P&I liabilities arising from the use/engagement of weapons of war, terrorism and other war risks would fall to be covered under a shipowner’s P&I war risks cover.

https://insurancemarinenews.com/insurance-marine-news/standard-club-explains-club-cover-rules-in-light-of-gulf-of-oman-attacks/

You can see the release from the Standard Club on 19th July at –

http://www.standard-club.com/news-and-knowledge/latest-updates/2019/07/web-alert-tanker-attacks-in-fujairah-and-gulf-of-oman.aspx

 

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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