About the Joint Hull Committee
The Joint Hull Committee (JHC) was founded in 1910 and is the oldest Joint Committee. It comprises underwriting representatives from both the Lloyd’s and IUA company markets, representing the interests of those who write marine hull business in the London market. It has a number of sub-committees, principally Navigating Limits and Risk Assessment.
The JHC has been mindful of the PRA requirement that underwriters identify, quantify and manage their cyber exposures, both affirmative and non-affirmative.
Members have been working on a clause that would work for the sector but concentrating on the software aspect.
Further to Lloyd's more specific mandate on affirming or excluding cover, LMA Marine released LMA 5402 (cyber exclusion) and LMA 5403 (cyber endorsement) to address this issue for 1/1.
Current issues include:
- 2020 Low Sulphur Regime
- Increased cost of salvage
- Arctic loss mitigation