Marine Insurance and General Average

Further to prior posts, the minutes of the December ISC/IWG meeting have been circulated and the first draft of the proposed 2016 Rules is now available.

Richard Cornah, a UK-based average adjuster and a rapporteur of the ISC and John O’Connor, a Canadian lawyer and past President of the CMLA, have prepared the draft on the basis of the what has…[Read more]

By way of update, the CMI’s International Working Group is scheduled to meet at the ISC’s office in London on December 7th and 8th, to continue discussion of the 2016 York Antwerp Rule revisions and draft guidelines to reflect existing best practice in the adjustment of general average and to provide a source of information and guidance for…[Read more]

By way of reminder, what underlies this is that the 2004 York Antwerp Rules have not been very widely adopted and the CMI is optimistic that a new set of YAR can be adopted in 2016 acceptable to all stakeholders. The cargo interests, represented by IUMI, and the shipowning interests, have both significantly moderated their positions in order to…[Read more]