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.
24 DEC 2015
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As of 1 January 2016, MSRC will no longer provide California Shoreline Protection and On Water Response Coverage services for vessels calling at the Port of Hueneme, California and/or transiting the southbound traffic lanes of the Santa Barbara Channel whilst from 1 January 2016, So Cal Ship Services (SCSS) will commence providing CASP response services.
22 DEC 2015
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Members are reminded of the requirement that vessels of 300gt and greater that are registered in a WRC State Party or call at a port or offshore facility in a WRC State Party must carry on board a certificate attesting that insurance or other financial security is in force in accordance with the Convention.
28 OCT 2015
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We are pleased to report that the financial position of Gard P. & I. (Bermuda)
Ltd. and Assuranceforeningen Gard – gjensidig as at the end of the second quarter of 2015 (20 August 2015), remains strong.
22 OCT 2015
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This circular informs Members of the approval by the International Group of P&I Clubs (the Group) of the e-titleTM solution. e-titleTM is a secure mechanism focusing exclusively on title transfers, complementing existing
web-portal services offered by shipping lines, logistics operators and trade facilitators.
15 JUL 2015
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On 14 July 2015, the P5 + 1 (US, UK, France, China, Russia and Germany) and Iran reached an agreement to ensure that Iran’s nuclear program will be exclusively peaceful in exchange for sanction relief.
05 JUN 2015
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Non-tank vessels in transit through Western Alaska waters en-route to or from a US port are required to follow Alternative Planning Criteria (APC) in order to fulfil federal requirements. In order to meet these requirements Members are required to enrol with a provider of such services in Western Alaska.National Response Corporation (NRC) and Resolve Marine Group are now approved by the U.S. Coast Guard (USCG) for their Western Alaska APC in addition to the already approved Alaska Maritime Prevention and Response Network.
01 JUN 2015
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The PRC Ministry of Transport recently published revised Regulations of the People’s Republic of China on Emergency Prevention and Handling of Marine Pollution Caused by Vessels, which became effective on 12 May 2015. The revised Regulations remove the requirement on SPROs to be approved by the China MSA, and introduce instead a new supervision and examination procedure by the local MSAs.
15 MAY 2015
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Article 6 of Uruguayan Law 19.012, which entered into force on 23 November 2012, established an obligation for some types of vessels and floating structures to contract with an Oil Spill Response Organization (OSRO). The Regulation will now take effect on 15 May 2015.
12 MAY 2015
At their recent meetings, your Boards of Directors received various reports on
matters of importance for the business activities of Gard P. & I. (Bermuda)
Ltd. and Assuranceforeningen Gard - gjensidig, and were pleased to note that
the financial position of the Associations has strengthened further.
23 FEB 2015
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Changes to the contracts of some oil spill response contractors in Alaska and
Guam mean they now conform with the International Group of P&I Clubs'
Guidelines.
20 FEB 2015
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The International Group has been informed that the Uruguayan Coast Guard has decided to suspend the entry into force of the Regulation pending clarification of certain issues with the OSROs.