Insurance Matters 2020
The ICS Insurance Committee’s raison d’être is to liaise with the London commercial hull insurance and war risks markets.
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The ICS Insurance Committee’s raison d’être is to liaise with the London commercial hull insurance and war risks markets.
In 2019, a new edition of the ICS Guidelines for Owners and Masters on Prevention of Drug Trafficking and Drug Abuse on board ships was published. It has already sold over 12,000 copies, demonstrating how seriously this matter is taken by shipping companies.
Ships often operate in difficult sea conditions which present a high degree of physical risk and despite tremendous improvements to the industry’s safety performance, it has not, yet been possible to eradicate, maritime casualties completely.
IMO is a UN Specialized Agency and its authority as shipping’s global regulator is ultimately derived from the United Nations Convention on the Law of the Sea (UNCLOS), which provides the fundamental legal framework for the use and protection of the world’s oceans.
A significant part of ICS resources is dedicated to representing the global industry on a range of complex technical issues covered by the IMO Maritime Safety Committee (MSC) of IMO’s 174 Member States, and its numerous technical Sub Committees and Correspondence Groups.
The vast majority of ships’ support level ratings are recruited from developing nations, and the shipping industry is probably unique in that, under the auspices of the International Labour Organization (ILO), it has a recommended global minimum wage for seafarers.
Shipping is a global industry and therefore requires a global regime for governing the competence standards and certification requirements for the approximately two million seafarers employed throughout the world merchant fleet.
Despite the lack of media attention due to COVID-19, the migrant rescue at sea crisis in the Mediterranean is far from over, with tens of thousands of migrants still attempting to make the dangerous sea crossing from Africa to Europe in overcrowded and unseaworthy craft.
Piracy in the Gulf of Guinea remains the principal security threat faced by the shipping industry. Dozens of seafarers are kidnapped each year, and held for ransom in terrible conditions ashore. ICS believes that piracy can and should be suppressed for the benefit of shipping and the region.
In November 2019, ICS formally opened its new ICS (China) Liaison Office, in Hong Kong SAR