Surround Sound: High Tech Meets the Beast Within Us


Spendor A7 loudspeaker


Audio Research LS5 preamplifier & BL2 input controller


Germany’s Scholz sees recovery fund as more than money


Cambridge Audio Edge A integrated amplifier


CH Precision M1.1 power amplifier


PS Audio UltraLink D/A processor


Wisconsinites Flood Open Bars After 'Safer At Home' Struck Down


Coronavirus : "chute vertigineuse" des remboursements en optique et dentaire


Father, Son Charged In Shooting Death Of Black Georgia Jogger

Shipping insurance under investigation

  • MEDIATORECONDOMINIALE
  • March 28, 2020
  • News
  • No Comments

Shipping insurance under investigation

European Commission findings will affect almost all shipping fleets.

By

Updated

The European Commission has launched an antitrust investigation to ascertain whether marine-insurance agreements between ship-owners violate European Union competition rules.

The Commission, which announced the probe today (26 August), said regulators would “examine whether certain provisions of the agreements may lessen…as well as restrict” competition and access of commercial insurers to the market.

Click Here: Cheap FIJI Rugby Jersey

It said it had concerns that current arrangements between so-called protection and indemnity insurance clubs, or P&I Clubs, which group together ship-owners and insure the vast majority of shipping vessels worldwide, were shutting out other insurers.

The investigation is being launched following the end this year of a 20-year exemption from EU competition rules granted to mutual insurance groups. The International Group of P&I Clubs said it will not seek a further exemption. It added that it was confident that the investigation would turn up no competition problems, as was the case in a similar review conducted in 1999.

There are 13 clubs in the group. Between them, they provide liability coverage for about 90% of shipping around the world.

The clubs are each independent, non-profit mutual insurance associations, providing protection for ship-owners in case of cargo loss or damage, accidents, injuries to crew or passengers and others onboard, or oil pollution.

Authors:
Constant Brand 

Got Something To Say!

Your email address will not be published. Required fields are marked *

BACK TO TOP