The nordic marine insurance plan of 20, version 2019 based on the norwegian marine insurance plan of 1996, version 2010. Castlegar news, november 12, 2015 by black press media. Haakon stang lund, legal counsel, norwegian hull club. An introduction to the nordic marine insurance plan of 20.
Wns corporate factsheet 2017 free download as pdf file. As of 1st january 20 the nordic marine insurance plan of 20 based on the norwegian marine insurance plan of 1996, version 2010. Dnk offers war risk insurance on the basis of the nordic marine insurance plan of 20, version 2019. The nordic marine insurance market adapts to changing risks by keeping the plan constantly up to date. Jurisdiction and choice of law if insurance based on this plan is effected with a nordic claims leader, it is agreed that legal proceedings against the claims leader concerning any matter, dispute or disagreement of any kind which may arise during or in connection with or which in. On the website of the nordic marine insurance plan of 20. Commentary to the nordic marine insurance plan of 20 version 2019 commentary to part 1 chapters 19 nordic plan 20 version.
There are currently no known outstanding effects for the marine insurance act 1906. The nordic marine insurance plan of 20, version 2019 main amendments to the plan and commentary. The basis for the nordic marine insurance plan of 20 is the agreement of 3 november 2010 amended 9 december 2016 between. Cefor, the nordic association of marine insurers has produced a brochure providing an overview of the plan structure and the common rules. May 28, 2014 nordic marine insurance plan app cefor has launched an app for the nordic marine insurance plan of 20. The plan is a comprehensive marine insurance regime based on the all risks principle, i. Nordic marine insurance plan 20 mobile offshore units. On 2010 the shipowners associations of denmark, finland, norway and sweden signed an agreement with cefor in order to develop a nordic marine insurance plan. The clubs rule 5m incorporates the uk marine insurance act 1906, under section 395 of which an insurer is relieved of liability if the ship is sent to sea in an unseaworthy state with the privity of the assured.
The nordic association of marine insurers cefor and the danish shipowners association, the finnish shipowners association. The nordic plan is also available free of charge as an app from the following stores. The nordic marine insurance plan of 20 based on the norwegian marine insurance plan of 1996, version 2010 the basis for the nordic marine insurance plan of 20 is the agreement of 3 november 2010 between. The previous subclause 2 stated that the default choice of law for insurance contracts with a nonnordic claims leader was norwegian, but had. Plan and commentary the commentary a legal source and integral part of the standard contract the plan if conflict the plan text shall prevail english wording but translated to the nordic languages the nordic marine insurance plan of 20 average adjuster bjorn slaatten, oslo. Danish convention danish marine insurance convention of 1934 ihc international hull conditions 011103 itch institute time clauses hull 95 iwsch institute war and strike clauses marine insurance act english marine insurance act 1906 c. In the 19th century, lloyds and the institute of london underwriters a grouping of london company insurers developed between them standardized clauses for the use of marine insurance, and these have been maintained since. Cefor, the nordic association of marine insurers has produced a. Previous versions of the norwegian marine insurance plan of 1996 and the nordic marine insurance plan of 20 are also available from this website. The plan 20 was agreed on november 3 2010 by five signatory parties of the nordic plan agreement. Our highly skilled marine claims team and marine claims adjusters deliver a seamless and. The nordic marine insurance plan of 20, version 2016 is now available.
Court of appeal case lb2011180164 concerned a claim from a shipowner and a manager against the freightrisk insurers for interest on. The swedish club is a mutual marine insurance company owned and controlled by its members. The nordic marine insurance plan hereinafter the plan is not just a set of hull conditions. While the plan is largely based on its predecessor, some important changes have been introduced. The nordic marine insurance plan of 20 underwriting. The nordic marine insurance market became standardised on january 1 20, when the nordic marine insurance plan 20 entered into force. The earlier versions of the norwegian marine insurance plans are also available.
With regard to work on the 1996 plan itself and on the 1997, 1999, 2002, 2003 and 2007 versions, reference is made to earlier prefaces. London and nordic marine insurance markets villagran lara. The nordic marine insurance plan of 20, version 2016. Global marine insurance report astrid seltmann fact and figures committee. Nordic marine insurance network has become a conduit to place insurance competitively within the region, and will soon open up for other producers to use, in their marketing efforts in the nordic countries. Analystactuary, cefor the nordic association of marine insurers, oslo. The nordic marine insurance plan of 20 norwegian hull club. The norwegian marine insurance plan of 1996, version 2002. A leading global marine insurer insurance from aig in the u. We have a stable, marketrecognised underwriting and loss control team with a commitment to building long term relationships with brokers and clients.
See end of document for details time of effecting the contract of insurance the assured was aware of the loss, and the insurer was not. The new nordic marine insurance plan 20 entered into force as of 1 january, 20. Jan 22, 20 on the website of the nordic marine insurance plan of 20. The norwegian marine insurance plan of 1996, version 2003. These amendments will better facilitate use of the plan in other nordic countries, as well as in the international market. The norwegian marine insurance plan of 1996, version 2007. General swedish marine insurance plan of 1 january 2006. Covid19 has temporarily shut down most travel and large gatherings, but it will not stop us from sharing ideas and forging new partnerships to build a stronger, healthier, and more sustainable world.
Wns corporate factsheet 2017 analytics procurement. Bimco released a new time charter party called windtime 20. The nordic marine insurance plan of 20, version 2016 nordicplan. The plan will no doubt provide greater certainty to both insurers and assureds as to the extent of insurance. This is achieved through our specialist team of marine insurance professionals partnering with you to understand your business and its exposure to potential risk. The norwegian marine insurance plan of 1996, version 2010. Jurisdiction and choice of law if insurance based on this plan is effected with a nordic claims leader, it is agreed that legal proceedings against the claims leader concerning any matter, dispute or. The plan was approved and available on 20 and the result was the nordic marine insurance plan of 20 based on the norwegian marine insurance plan of 1996, version 2010. In this edition, we consider the implications of the recent english supreme court decision in the alexandros t, where the court ruled that an english settlement agreement should bring a full stop. May 22, 20 the nordic marine insurance plan 20 recently entered into force. More info in marine insurance folder increased value iv insurance page 6 freight interest insurance page 8. The current plan, the nordic marine insurance plan 20, provides cover for all traditional marine.
A contract of marine insurance may by its express terms or by. The previous subclause 2 stated that the default choice of law for insurance contracts with a non nordic claims leader was norwegian, but had no. Nordic innovation summit 2020 will go forward may 14 as a free online event. The plan is an agreed document of marine insurance conditions negotiated between the nordic shipowners associations and the nordic association of marine insurers. Shipping january 2014 marine insurance bulletin welcome to the january edition of our marine insurance bulletin. Provisions for the drafting and publication of these conditions were agreed by the four nordic shipowners associations and cefor, the nordic association of marine insurers, 1 in.
Increased value iv insurance or hull interest insurance, is a property insurance which insures the full value, or mortgage value, of a vessel andor the additional costs of replacing a vessel it is a total loss. This foreword covers work on the norwegian marine insurance plan of 1996, version 2010. To secure an early copy of version 2016 of the nordic marine insurance plan delivered directly from the printers in october, preordering is now possible through the plans website. Introduction to the nordic marine insurance plan of 20. With corresponding amendments to the commentary 1 clause 14a.
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