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Joint Rig Committee represents the interests of insurers writing offshore energy risks in London. Membership of the Committee comprises energy underwriters drawn from the membership of both the Lloyd’s Market Association and the International Underwriting Association. Details about the role of the Committee is available here. JRC has several active sub-committees and these are outlined in the JRC Workplan as at July 2013. Click here for the committee Terms of Reference.
This is a summarised list of the Key issues currently being considered by the Joint Rig Committee:
Available here is full details of key issues currently under consideration.
The Joint Rig Committee issues wordings and clauses from time to time which are available for market use. Work is currently in progress on a revised WELCAR wording and an updated London Standard Platform form.
The following links have been provided as being of interest to offshore energy insurers: