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.
This is a summarised list of the Key issues currently being considered by the Joint Rig Committee:
- Scope of Work for Rig Moves
- Additional Assured Clause
- Testing and Commissioning Clause
- Floating Unit Mooring Assessments
- WELCAR Wording.