Insurance and Legal Committee
“The Committee continues to consider issues affecting insurance from hull to P&I and war risks as well as emerging insurance products such as cyber cover. There is an increased focus sanctions as the shipping industry comes under heightened scrutiny. The Committee is looking at ways to help Members with understanding their obligations and resourcing their compliance programmes both for sanctions and anti-corruption”
Andreas Andreou, Chairman
- To further the common interests of the independent tanker industry with regard to relevant insurance and liability issues
- To act as a resource group for the INTERTANKO Council and other Committees as well as the Secretariat
- To act as a link between INTERTANKO and the insurance industry and its associations and organisations
- Oil pollution
- limitation of liability
- insurance (P&I, hull, war risk)
- cyber risk
- Insurance markets
What is the Committee looking to achieve in 2021?
- Increase membership to reflect the full cross section of Members and Associate Members, to enable influence on decision makers/ legislators on key areas of law/ insurance
- Monitor new insurance products that cover emerging risks e.g. cyber and security
- Monitor threats to the limitation of liability for marine risk including threats to the oil pollution compensation regime and onerous terminal conditions of use
- Monitor sanctions and provide guidance to Members as appropriate
Chairman: Andreas Andreou – Columbia Shipmanagement
Secretary: Michele White
INTERTANKO’s Insurance and Legal Committee meets in London
INTERTANKO’s Insurance and Legal Committee met in London last week under the chairmanship of Andreas Andreaou of Columbia Shipmanagement. This... MORE
INTERTANKO’s Insurance and Legal Committee focuses on cyber risk
INTERTANKO's Insurance and Legal Committee met last week in London. Top of the agenda were issues relating to cyber risk,... MORE
INTERTANKO Insurance and Legal Committee meets in Oslo
The Association's Insurance and Legal Committee met in Oslo this week under the chairmanship of Mr Ken Marshall of Neda... MORE
INTERTANKO Insurance and Legal Committee meets in London
The Association's Insurance and Legal Committee met in London last week where it took the opportunity to review the five... MORE
Committee ResourcesThere are no resources for this committee.
Terms of Reference
TERMS OF REFERENCE
INSURANCE & LEGAL COMMITTEE
1. AIMS AND OBJECTIVES
a) The aim of the Committee is to further the common interests of the independent tanker industry with regards to all relevant insurance, liability and legal issues particularly affecting tanker
b) The Committee shall in addition to acting as a resource group for other INTERTANKO bodies as well as the INTERTANKO office, whenever possible act as a link between INTERTANKO and the insurance industry and its organisations.
c) In its work the Committee is to pay due regard to relevant work being done on other INTERTANKO Committees and in other bodies outside INTERTANKO.
2. MEMBERSHIP OF THE COMMITTEE
a) Membership of the Committee shall be endorsed by the Council.
b) The Committee's aim is to have in the region of twelve members. Four Committee members in addition to either the Chairman or one of the Vice-Chairmen shall constitute a quorum.
c) The Committee members term is two years which can be extended for another two years, unless other reasons apply and are approved by the Executive Committee. Examples of when other reasons apply could include when it is difficult to get new members to join a Committee or the member has specific expertise that would be valuable in the resolution of an important issue under discussion by the Committee.
d) INTERTANKO officials may attend Committee Meetings as well as representatives from other INTERTANKO Members on an ad-hoc basis with the agreement of the Committee's Chairman.
3. CHAIRMAN AND VICE-CHAIRMAN
a) The Committee shall appoint its own Chairman subject to the ratification of the Council. The Committee may appoint one or more Vice-Chairmen.
b) The Chairman’s term of office is two years which can be extended for another two years, unless other reasons apply and are approved by the Executive Committee. Examples of when other reasons apply could include when a new Chairman cannot be found or the resolution of an important issue under discussion by the Committee would benefit from the Chairman’s leadership.
4. COMMITTEE MEETINGS
a) Committee meetings should take place twice a year. Committee members should make every endeavour to attend not less than one meeting per annum. Members further commit themselves to participate as fully as possible in e-mail discussions of matters arising between meetings. Such discussions are an important part of the Committee's effectiveness. Should a committee member not be able to attend meetings the member will be encouraged to submit written comments.
b) Repeated non‐attendance/non contribution may result in a review of Committee membership by the Committee Chairman and Secretary and a recommendation of removal from the committee. A Committee member may, on occasion, be represented by an alternate from his company.
5. TRAVEL EXPENSES
The travelling expenses of the Committee’s membership shall be paid by the member company.
6. TERMS OF REFERENCE
The Terms of Reference shall be approved by INTERTANKO’s Council.
The INTERTANKO Secretariat undertakes the secretarial and administrative tasks for the Committee.
The Committee will report to INTERTANKO's Executive Committee or Council as required.
ADK Maritime Pte Ltd
Mr Andreas Andreou
Tsakos Shipping Ltd
Mrs. Ingela Tengelin
Stena Bulk AB