13 JAN 2017
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04 NOV 2016
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Reference is made to our Circular No. 13/2016 dated October 2016 advising that all Clubs in the International Group would shortly provide information to Members about the process for obtaining MLC Certificates. The purpose of this Circular is to inform Gard Members of the application process.
27 OCT 2016
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The Gard group wishes to promote the exercise of proper practice when conducting business through brokers and other intermediaries. Besides improved ‘Know Your Client’ procedures, we will in particular ensure that payments of remuneration to brokers, and other intermediaries being the agents of the insured, are transparent and meet the best practice requirements under governing legislation.
27 OCT 2016
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The financial position of Gard P. & I. (Bermuda) Ltd. and its subsidiaries, on a consolidated basis as at the end of the second quarter of 2016 (20 August), remains strong.
07 OCT 2016
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Once the amendments to the Maritime Labour Convention 2006 enters into force on 18 January 2017 ships that are subject to the MLC will be required to display certificates issued by an insurer or other financial security provider confirming that insurance or other financial security is in place for liabilities in respect of outstanding wages and repatriation of seafarers together with incidental costs and expenses and compensation for death or long-term disability.
22 JUL 2016
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Following four years of consultation and an extensive review by a CMI International Working Group, the YAR 2016 were adopted by the CMI Assembly at its conference in New York in early May.
28 JUN 2016
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In April 2014 the ILO agreed several amendments to the Maritime Labour Convention which will enter into force on 18 January 2017. Ships must, after this date, display certificates confirming that insurance for, inter alia, the cost and expense of crew repatriation, as well as wages following abandonment. International Group Clubs propose to provide the necessary MLC certification by way of an extension clause to the P&I rules, but with a right of indemnity from Members and on the basis that these new MLC liabilities will not fall within the IG’s existing pooling arrangements.
16 JUN 2016
The Annual General Meeting of Assuranceforeningen Gard - gjensidig will be held at the offices of Gard AS in Arendal, Norway, on Friday, 2 September 2016.
31 MAY 2016
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There have been some changes to the oil spill response contractors in Western and South East Alaska as well as the state of Oregon. Users are also reminded that some oil spill contractors in Alaska, Oregon and Hawaii have contracts that do not conform with the International Group's Guidelines for vessel response plans.
16 MAY 2016
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Both the European Union and the United States continue to apply trade sanctions against the Government of Syria and a number of designated Syrian persons and entities. This circular provides a general overview of key sanctions that apply to Syria shipping and related insurance activities and also describes the potential impact of certain recent developments.
10 MAY 2016
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Updated 27 January 2017
The International Group of P&I Clubs and the shipping line members of the Cargo Incident Notification System have collaborated to produce a new set of guidelines for the carriage of Calcium Hypochlorite in containers.These new guidelines can essentially be considered “IMDG Code plus precautions” in that they include selected provisions from the IMDG Code plus additional precautions
10 MAY 2016
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On a group basis, Gard reported a result after tax of USD 85 million with a combined ratio net of 83 per cent. The Boards unanimously resolved to levy a 15 per cent Deferred Call for the 2015 policy year, which is 10 percentage points less than the original estimate of 25 per cent and represent a reduction of USD 37 million in the amount of premium actually called. As at 20 February, 2016 the consolidated contingency reserves of the Associations, which provide security and stability for the joint membership, stood at USD 1,017 million.
06 MAY 2016
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The Inter-Club New York Produce Exchange Agreement 1996 provides a mechanism whereby liability for cargo claims arising under the New York Produce Exchange Form (NYPE) or Asbatime charterparties and/or contracts of carriage authorised under such charterparties can be swiftly and fairly apportioned between owners and charterers.
04 MAY 2016
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This Circular is intended to update Members on the latest developments in relation to the interim and longer-term solutions to the reinsurance recovery shortfall risk under Gard’s Fixed Premium P&I Excess Loss reinsurance programme.
15 APR 2016
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As previously notified, the International Group has bought "fall-back" cover, which is designed to respond to reinsurance recovery shortfalls that would result from the inability of US- domiciled reinsurers on the Group GXL and Hydra reinsurance programmes to make payments due to the continuing application of US primary sanctions, for the 2016/17 policy year.
18 MAR 2016
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Further to our Circular 1/2016 concerning Iran sanctions, this Circular is intended to update members on the latest developments in relation to the interim and longer-term solutions to the reinsurance recovery shortfall risk under the Group General Excess Loss reinsurance programme and Hydra retrocession programme.
22 FEB 2016
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This Circular is intended to assist Members when deciding whether to trade to/from Iran by explaining what P&I cover is available as well as identifying any possible shortfalls in cover. Some of the matters detailed below may also apply when Members’ ships trade to/from other countries which are subject to US sanctions.
08 FEB 2016
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The Member Circular sets out the reinsurance arrangements for owners' entries reinsured through the International Group pooling arrangement fpor the 2016 policy year commencing on 20 February 2016, charterers' co-assured under an owner's entry and the terms of the special war risks P&I cover.
19 JAN 2016
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‘Implementation Day’ under the JCPOA relating to the curtailment of Iranian nuclear activities was announced on Saturday 16 January 2016. This has triggered the general lifting of the EU sanctions which have targeted amongst other things maritime trade with Iran together with the insurance of vessels engaged in such trade and the provision of insurance and reinsurance cover to Iranian vessels and entities. At the same time there has been a partial lifting of US secondary sanctions measures and prohibitions, i.e. measures and prohibitions on non-US persons and entities.
11 JAN 2016
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This circular outlines the amendments to the Rules for Ships and the Rules for Mobile Offshore Units of both Assuranceforeningen Gard - gjensidig - and Gard P. & I. (Bermuda) Ltd , which will enter into force at noon GMT on 20 February 2016.