In 2009 the Joint Cargo Committee (JCC) completed the revision of the Institute Cargo Clauses along with their associated War and Strikes provisions. The revised clauses have proved very successful, being widely adopted both in London and in other cargo insurance markets around the world. Following the conclusion of these initial re-drafts, the Committee turned its attention to the suite of remaining ancillary and trade clauses.
Because of the number of clauses to be reviewed, the JCC took the decision to establish a series of Working Groups to look at particular sets of clauses as follows:
Review Steering Group
The three Working Groups, each of which comprised representatives from insurers and brokers, and included a claims representative and a representative from a London law firm, were tasked with reviewing the existing sets of clauses issued in the 1980s, and comparing these to the cover offered under the appropriate 2009 revisions.
The intent of the review was:
Where appropriate, to extend coverage to reflect that introduced under the 2009 ICC revision process.
To retain existing levels of cover in circumstances where broadening cover may not be appropriate
Update terminology/language to retain consistency with the 2009 revisions.
Both the Commodity Clauses WG and the Miscellaneous WG have completed their work, and the resulting drafts have also been reviewed by the JCC Clause Revision Steering Group which co-ordinated the 2009 revisions. The resulting drafts (below) were released for general consultation/review under JC2012/008.
Feedback on these drafts should be made to Neil Smith
, Secretary of the Steering Group. The original deadline for consultation was Friday 7 December 2012 - this has now been extended to FRIDAY 28 DECEMBER 2012