About the Joint Natural Resources Committee
Joint Natural Resources Committee represents the interests of insurers writing offshore energy risks in London. The name reflects the business written by the membership of the Committee, comprising offshore energy underwriters drawn from the membership of both the Lloyd’s Market Association and the International Underwriting Association.
There are several active sub-committees - CCUS, Offshore Wind, Survey and Engineering, Sustainability, Wordings.
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.
The JNRC Forum (8th February 2023) slides can be accessed here
Subsequently, the Oil and Gas Authority provided some useful material on carbon capture and storage which can be accessed here
This is a short list of the Key issues currently being considered by the Joint Natural Resources Committee:
- Carbon Capture
- Offshore Wind clauses
- Transition Questions
Consultation on EED 8/86
The feedback received on the draft proposals is under review. It should be noted that the documents circulated for consultation were drafts and none were released for use.