Published December 2023

A full round up of the issues currently being worked on by the Policy Forum.

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Published December 2023

Autonomous shipping/transport is gaining traction within the industry with the possibility of driverless trucks and vessels becoming a reality in the near future. Insurers need to address the various legal and liability issues that this poses as well as the risks related to new technologies and the internet of things. 

IUMI’s position

For autonomous/unmanned transports to become insurable the use of autonomous systems must rely on proper industry standards, certification and regulatory regimes. IUMI is monitoring industry and government-run projects. IUMI is also encouraging classification societies to take an active role in the technical and operational risk aspects of autonomous vessels and encouraging the development of industry standards.

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Published December 2023

If very serious marine casualties occur, SOLAS requires the flag administrations involved to conduct a safety investigation. Relevant information arising from the investigations should be made available to the IMO in a timely manner so that lessons can be learnt. Casualty investigation reports are often provided to the IMO with significant delay or not all. IUMI advocates for the timely publication of casualty investigation reports. IUMI further urges that such reports are made available for all very serious marine casualties to ensure lessons can be learned and safety improved.

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Published December 2023

The loss of containers at sea is a problem caused by a complex mix of root causes which need to be addressed. IUMI participates in the TopTier Project which aims to address the issue with its complexity. IUMI supports the implementation of the findings of the TopTier JIP into the IMO to affect regulatory improvements to stop containers being lost at sea.

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Published December 2023

Container vessels are rapidly increasing in size, and with fires onboard and misdeclaration of cargo being two of the worst hazards in the shipping industry, insurers are highlighting several issues related to the safety of these ships. IUMI is involved in the work of the IMO to improve fire safety onboard container ships.

IUMI supports measures that improve the monitoring of containers and their contents, including supporting internationally harmonized legislation and national regulations based on the Code of Practice for Packing of Cargo Transport Units (CTU) Code. IUMI continues to monitor and support measures to ensure the structural safety of large container ships and assessing with other stakeholders the need for further action on the installation of necessary firefighting measures.

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Published December 2023

Machinery damage is a frequent cause of loss in marine insurance. IUMI is increasing awareness of this issue, monitoring and supporting developments and encouraging the implementation of new IACS recommendations for petroleum fuel treatment systems for marine diesel engines.

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Published December 2023

IUU fishing causes significant harm and negatively impacts communities and fish stocks in various geographies. Marine insurers can support the ending of IUU fishing practices by conducting due diligence and withdrawing their services to actors involved in such activities. IUMI has been involved in developing online tools to help identify vessels involved in IUU fishing.

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Published December 2023

The ability to apply limitation is seen as an essential quid pro quo for shipowners in agreeing strict liability under the IMO conventions. Any weakening of this or uncertainty over when limits can be overridden has significant implications for shipowners and their insurers. Recognising this, the IMO's Legal Committee agreed to develop a unified interpretation (UI) to provide increased clarity and a common understanding on the ‘virtually unbreakable’ nature of the test to break limits. IUMI is involved in this work and supports the development of a UI.

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Published December 2023

More than one third of all fires on board vessels start in the engine room. Leaking oil pipes or equipment placed very close to a potential ignition source have been identified as the cause of several of such engine room fires. While the risk of fires from high pressure systems has decreased with the implementation of new design rules for the fuel pipes in 2003, the low pressure pipes/systems remain a significant risk.

IUMI Position

IUMI will engage in discussions with IACS on how to prevent and mitigate fire risks due to leakage from low pressure fuel systems with a view to potentially changing SOLAS regulations.

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Published December 2023

Plastic litter and in particular small plastic pellets can cause significant harm to the marine environment if they are lost at sea in an accident. IUMI participates in IMO Working Groups and Correspondence Groups to communicate marine insurers’ positions regard the safe packaging of plastic pellets.

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Published December 2023

Regulatory changes to decarbonise the shipping industry are underway at the IMO and in other regional blocs. IUMI supports the transition to low and no emissions shipping. During this transition the safety of the vessels which are using new fuels and propulsion methods must be ensured. IUMI will increase awareness for alternative low and zero carbon fuel types and propulsion methods, and contribute towards any necessary safety regulation amendments.

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Published December 2023

Climate change has an impact on the goods which are being carried. The increasing number of EVs carried on board vessels has changed the risk profile. This requires changes and improvements to existing fire safety measures onboard. IUMI will be involved in the IMO’s work to effect appropriate safety measures to address this new risk.

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Published December 2023

In light of the efforts to combat climate change and to reduce the dependence on fossil fuels, new sources of energy and energy storage systems are being developed and constantly evolve. This has led to the increased use of lithium-ion batteries (LIBs) in all kinds of electronic devices, appliances, battery energy storage systems (BESS) and small vehicles. IUMI will be involved in the IMO’s work to effect appropriate safety measures to address this new risk.

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Published December 2023

The International Maritime Bureau (IBM) reported 180 piracy and armed robbery incidents worldwide in 2017. The Gulf of Guinea, Gulf of Aden and the Indian Ocean are areas of serious concern for marine insurers.

IUMI’s position

IUMI will continue to monitor and inform the IUMI membership of developments. A strong supporter of the Best Management Practice (BMP) 5 guidelines, BIMCO and ICS guidelines, IUMI also supports the implementation of ISO PAS 28007.

Overall it is vital for owners and insurers to remain vigilant in the Indian Ocean and governments to support counter-piracy operations through naval task forces and other means of support.

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Published December 2023

International sanctions continue to be used by countries to encourage other nations to conform to international agreements, particularly trade. The current targeting of financial services has demonstrated the necessity for marine insurers to keep up-to-date with new sanction regimes and how to comply with them.

IUMI’s position

IUMI will continue to offer guidance on where information can be found from the key sanction regimes and recommends proper due diligence is taken by marine insurers.

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