20 January 2017
Joint Rig Committee publishes four upstream energy documents
The Joint Rig Committee (JRC) has published four upstream energy documents designed to assist insurers, operators and third party contractors to better assess certain risks associated with various operations involving offshore facilities.
The ‘Rig Move’ and ‘Upstream Construction’ documents provide guidance on the scope of activities for marine warranty surveyors required to ensure the safe movement of rigs and the safe conduct of key upstream construction project operations such as load-out, transportation and installation and now include example upstream construction Certificates of Approval. The Rig Move documents cover both location approval and towing operations (wet or dry) from one location to another. Both of these are updated documents and have been amended to be used either as stand alone items, or in combination with their respective warranty endorsement.
Two new documents, ‘Initial Screening Process (ISP)’ and ‘Marine Warranty Surveyor (MWS) Good Practice Guideline’, provide support to all parties involved in various offshore platform operations. The Initial Screening Process document links to the Rig Move documents, and the MWS Good Practice Guideline gives underwriters an outline of questions they might ask a marine warranty surveyor or the surveying company to ensure they are suitable to undertake work on a particular project or rig move.
James Straker-Nesbit, Senior Executive, Underwriting at the Lloyd’s Market Association, and Secretary to the Joint Rig Committee and Joint Rig Survey & Engineering sub-committee said: “We have seen a significant increase in recent years in the number of marine warranty surveyors and surveying companies offering their services to the market. As a result, it has become more difficult to assess whether they have the technical expertise and corporate infrastructure to undertake particular tasks. These new documents have been designed with this in mind and will greatly assist in the process.”
The Joint Rig Committee presented the new documents to the market in the Old Library at Lloyd’s on the 17 January 2017. The documents are available to download from MWS Technical Documents section of the Joint Rig webpage: www.lmalloyds.com/jointrig
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Notes to Editors
For further information please contact:
James Milne, Communications Manager
Lloyd’s Market Association
T 0207 327 8405
About the Joint Rig Committee
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. There are several active sub-committees with the Survey and Engineering sub-Committee taking a lead in Codes of Practice.
Role of Committee
Provide a representative forum for the London marine energy market which allows, where appropriate, discussion of common issues or concerns.
- Promote the best principles and practice of marine energy and related insurance and reinsurance.
- Initiate project or sub-groups where appropriate to address specific issues.
- Advise the LMA Marine Committee on matters affecting the marine energy sector.
- Promote the views and needs of the sector in London and beyond.
- Promote the profile of the London market internationally.
- Support and co-ordinate relevant representation on, and the work of, London Market committees and other appropriate bodies in the UK and overseas.
- Guide the Board and secretariat in the LMA’s provision of advice, information and technical services to the marine underwriting and claims community.
- Communicate regularly with the marine energy market on pertinent issues including the Committee’s ongoing work and that of its sub-committees and working parties.
About the Lloyd’s Market Association (LMA)
Formed in 2001 and located in the heart of the Lloyd’s Building in the City of London, the Lloyd's Market Association represents the interests of the Lloyd’s underwriting community. All underwriting businesses at Lloyd’s are members, together managing gross premium income of around £30billion per annum. For more information visit: www.lmalloyds.com.