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Gard Services (ID: 43)
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Welcome to Gard Services As of 1st July 2000, the new joint management company for managing the P&I activities of Assuranceforeningen Gard and the Marine & Energy activities of If P&C Insurance Ltd (publ) will be operational. Under the umbrella of Gard Services, we will have brought together the tradition, skills and strong market position of the Gard P&I Club and the household names in the marine insurance world, Storebrand and Vesta. This vehicle will provide shipowners and other customers with what is certainly the strongest Marine & Energy portfolio outside the London market. Our ambition is that Gard Services will be a gateway to the Scandinavian Marine & Energy market - a global presence from a strong maritime heritage. We have a commitment to remain true to the Club-like atmosphere developed since 1907 within the Gard P&I Club. Our near 300 professionals will focus on providing the highest levels of customer service and on innovation within the marine and energy fields with one single purpose - to remain at the forefront of the marine and energy business. The product lines serviced by the new management company are briefly presented in this introduction to Gard Services. We will achieve significant cost efficiencies through the integration of back office functions and the joint development of ICT tools for the broader spectrum of products to be serviced. We will see clear gains for both underwriters and customers through the integration of claims servicing. Through dialogue with customers and Members, we will strive to tailor products innovatively to meet market expectations and needs. In short, remaining true to our heritage - the Scandinavian marine tradition and commitment to the future - we will have the flexibility and the strength to perform in changing market conditions. We invite you to join us in shaping the future of the Marine & Energy market. Assuranceforeningen Gard to take full control of Gard Marine and Energy portfolio. Please click here for more information. Latest News: Gard News 172, November 2003/January 2004 now available The Marine Hull Index for October 2003 now available Loss Prevention Circular: Loss prevention Circular No. 07-03: The dangers of carrying Direct Reduced Iron (DRI) Since the International Group of P&I Clubs` Circular on Direct Reduced Iron published in 1982, the dangers of DRI have somewhat disappeared from the limelight. Gard P&I has recently been involved in several cases, which have served as a stark reminder of the dangers involved in carrying this hazardous bulk cargo.... Press Release: Gard acquires marine and energy portfolio from If P&C (28 October 2003) The Committee of Assuranceforeningen Gard, at its meeting in Geneva on the 27th of October, decided that the Association will acquire the Marine and Energy (M&E) portfolio from If P&C Insurance Ltd (publ) ( If ), through the establishment of a new company.... Arendal Bergen Oslo London Tokyo Gothenburg Hong Kong New York Helsinki Gard Services manages the Hull and Machinery and Energy insurance on behalf of If P&C Insurance Ltd (publ) and P&I insurance on behalf of Assuranceforeningen Gard Comparative summary of International Conventions and other legal regimes applicable to carriage of goods by sea Download this document (MS Word 97) Hague Rules Hague- Visby Rules Hamburg Rules US COGSA Definition of carrier The owner or charterer who enters into a contract of carriage with a shipper. (Article I(a)) The owner or charterer who enters into a contract of carriage with a shipper. (Article I(a)) Any person by whom or in whose name a contract of carriage of goods by sea has been concluded with a shipper. "Actual carrier" is the party to whom actual performance of the contract has been entrusted. The liability of the carrier and actual carrier is joint and several. (Article 1(1)&(2) Owner or the charterer who enters into a contract of carriage with a shipper. (Section 1(a)) Definition of Contract of Carriage Contracts of carriage covered by a bill of lading or similar document of title. (Article I(b)) Contracts of carriage covered by a bill of lading or similar document of title. (Article I(b)) Any contract whereby the carrier undertakes against payment of freight to carry goods by sea from one port to another. However, a contract which involves carriage by sea and also carriage by some other means is deemed to be a contract of carriage by sea only insofar as it relates to the carriage by sea. (Article 1(b)) The convention expressly provides that it does not apply to charter parties. (Article 2.3) Contracts of carriage covered by a bill of lading or any similar document of title. (Section 1(b)) Goods Includes goods, wares merchandises and articles of every kind whatsoever, except live animals and deck cargo. (Article I(c)) Includes goods, wares merchandises and articles of every kind whatsoever, except live animals and deck cargo. (Article I(c)) Includes live animals; where goods are consolidated in a container, pallet or similar article of transport or where they are packed, "goods" includes such article of transport if supplied by the shipper. (Article 1(5)) Includes deck cargo provided carriage is in accordance with agreement with shipper or with the usage of the particular trade. (Article 9) Includes goods, wares, merchandise and articles of every kind except live animals and deck cargo. (Section 1(c)) Scope of Application No geographic limit on applicability (although some limits were established by individual countries when adopting the Rules in their domestic legislation). Applies to contracts containing Hague Rules Clause Paramount. Carriage between ports in two different states if: bill of lading issued in a contracting state; or carriage from a port in a contracting state; or contract contains a Hague Visby Rules Clause Paramount. (Article X) Carriage between ports in two different states if: Port of loading, as provided for in the contract, is in a contracting state; or port of discharge, as provided for in the contract, is in a contracting state; or one of the contractual optional ports of discharge is the actual port of discharge and is located in a contracting state; or contract of carriage is issued in a contracting state; or the Rules are incorporated into the contract of carriage by way of a Hamburg Rules Clause Paramount. (Article 2) Contract of carriage for the carriage of goods by sea to or from ports in the USA in foreign trade. (Preamble to the Act). Applies to contracts containing US COGSA Clause Paramount. Period of carrier's responsibility covered Tackle to tackle. (Article I(e)) Tackle to tackle. (Article I(e)) Port to port. (Article 4) Tackle to tackle. (Section 1(e)) Evidentiary value of transport document of receipt of goods as described therein Prima facie evidence. (Article III(4)) Prima facie evidence in the hands of the shipper, but conclusive evidence in the hands of third parties. (Article III(4)) Prima facie evidence in the hands of the shipper, but conclusive evidence in the hands of third parties. (Article 16(3)) Prima facie evidence. (Section 3(4)) Basis of liability The carrier shall properly and carefully load, handle, stow, carry, keep, care for and discharge the goods carried. (Article III) Liability is subject to a catalogue of exceptions available for loss of or damage to the cargo, unless caused by want of due diligence on the part of the carrier to make the ship seaworthy before and at the beginning of the voyage. (Article IV) The carrier shall properly and carefully load, handle, stow, carry, keep, care for and discharge the goods carried. (Article III) Liability is subject to a catalogue of exceptions available for loss of or damage to the cargo, unless caused by want of due diligence on the part of the carrier to make the ship seaworthy before and at the beginning of the voyage. (Article IV) Carrier liable if the occurrence which caused the loss, damage or delay in delivery of the cargo took place while the goods were in his charge, unless he proves that he, his servants or agents took all measures that could reasonably be required to avoid the occurrence and its consequences. The carrier is not liable for loss/damage/delay caused by fire, unless the claimant proves that the fire arose from fault or neglect on the part of the carrier, his servants or agents. (Article 5) The carrier shall properly and carefully load handle stow carry keep care for and discharge the goods carried but liability for such is subject to a catalogue of exceptions available for loss of or damage to the cargo unless caused by want of due diligence on the part of the carrier to make the ship seaworthy before and at the beginning of the voyage. (Section 3(2) and 4(3)) Liability for delay No provision. No provision. Delay in delivery occurs when the goods have not been delivered at the port of discharge within the time expressly agreed upon, or, in the absence of such agreement, within the time which it would be reasonable to require of a diligent carrier, having regard to the circumstances of the case. (Article 5(2)) No provision Notice of loss or damage to the cargo Before or at the time of removal of the goods into the custody of the person entitled to delivery, or for non-apparent loss or damage, within three days, otherwise removal of goods will be prima facie evidence of delivery as goods as described in the bill of lading. (Article III (6)) Before or at the time of removal of the goods into the custody of the person entitled to delivery, or for non-apparent loss or damage, within three days, otherwise removal of goods will be prima facie evidence of delivery of goods as described in the bill of lading. (Article III (6)) No later than the working day after the day of handling over the goods to the consignee. (Article 19(1) and (2)) In case of non-apparent loss or damage notice must be given within 15 days after the day the goods were handed over to the consignee, otherwise delivery is prima facie evidence of goods as described in the transport document. Before or at the time of removal of the goods into the custody of the person entitled to delivery, or for non-apparent loss or damage, within three days, otherwise removal of goods will be prima facie evidence of delivery of goods as described in the bill of lading. (Article III (6)) Notice of delay in delivery of cargo Not applicable Not applicable No compensation shall be payable for loss resulting from delay unless a notice has been given in writing to the carrier within 60 days after the day when the goods were handed over to the consignee. (Article 19(5)) Not applicable Limitation of liability GBP 100 per package or unit. (Article IV(5)) 10,000 francs per package or unit or 30 gold francs per kilo, whichever is the higher (Article IV(5)(a)). A franc means a unit consisting of 65.5 milligrams of gold of millesimal fineness 900. (Article IV(5)(d)) For those countries that have ratified the SDR Protocol, 666.67 SDR per package/unit or 2 SDR per kilo, whichever is higher. 835 SDR per package or 2.5 SDR per kilo, whichever is higher, and for delay two and a half times the freight payable for the goods delayed but not exceeding total freight under the contract. (Article 6(1) and (2)) USD 500 per package or in the case of goods not shipped in packages per customary freight unit. (Section 4(5)) Loss of the right to limit liability No provision. If the damage resulted from an act or omission of the carrier done with the intent to cause such damage, or recklessly and with knowledge that such damage would probably result. (Article IV (5)(e)) If the loss, damage or delay resulted from an act or omission of the carrier done with the intent to cause such loss, damage or delay, or recklessly and with knowledge that such loss, damage or delay would probably result. (Article 8) No provision Liability of the shipper The shipper shall not be responsible for loss or damage sustained by the carrier or the ship arising or resulting from any cause without the act, fault or neglect of the shipper, his agents or his servants. (Section 4(3)) The shipper shall not be responsible for loss or damage sustained by the carrier or the ship arising or resulting from any cause without the act, fault or neglect of the shipper, his agents or his servants. (Section 4(3)) The shipper is not liable for loss sustained by the carrier or for damage sustained by the ship unless such loss or damage was caused by the fault or neglect of the shipper, his servants or agents. Nor is any servant or agent of the shipper liable for such loss or damage unless the loss or damage was caused by fault or neglect on his part. (Article 12) The shipper shall not be responsible for loss or damage sustained by the carrier or the ship arising or resulting from any cause without the act, fault or neglect of the shipper, his agents or his servants. (Section 4(3)) Time limit for claims In respect of claims against the carrier one year from delivery of the goods or the date they should have been delivered. (Article III(6)) No provision in respect of claims against the shipper. In respect of claims against the carrier one year from delivery of the goods or when the goods should have been delivered. (Article III (6)) Indemnity claims may be brought after expiration of one year if brought within the time allowed by the law of the court seized but the time allowed shall not be less than 3 months. (Article III (6) bis) No provision in respect of claims against the shipper. Time limit applies to claims against shipper or carrier. Two years from delivery of the goods or when the goods should have been delivered. (Article 20(1)) Indemnity claims may be brought after 2 years if brought within the time allowed by the law of the state where proceedings are instituted but the time allowed shall not be less than 90 days. (Article 20(5)) In respect of claims against the carrier one year from delivery of the goods or the date they should have been delivered. No provision in respect of claims against the shipper. (Section 3(6)) Contracting states Algeria, Angola, Antigua & Barbuda, Argentina, Bahamas, Belize, Bolivia, Cape Verde Islands, Croatia, Cuba, Cyprus, Dominican Republic, Fiji, Gambia, Ghana, Goa, Grenada, Guinea Bissau, Guyana, (Hungary5), Iran, Ireland, Israel, Ivory Coast, Jamaica, (Kenya5), Kiribati, Kuwait, Malagasy Republic, Malaysia, Mauritius, Monaco, Mozambique, Nauru, Papua New Guinea, Paraguay, Peru, Portugal, Sao Tome & Principe, Seychelles, Solomon Islands, Somalia, St. Christopher & Nevis, St. Lucia, St. Vincent & the Grenadines, Timores, Trinidad & Tobago, Turkey, Tuvalu, United States of America, Yugoslavia, Zaire. Australia2, 6, Beligum2, Bermuda2, British Antarctic Territory2, British Virgin Islands2, Canada1, Cayman Islands2, Denmark2, Ecuador, Falkland Islands2, Finland2, France2, Germany1, (Georgia5), Gibraltar, Greece3, Hong Kong2, Isle of Man2, Italy2, Japan2, (Lebanon5), Luxembourg2, Mexico2, Montserrat2, Netherlands2, New Zealand2,4, Norway2, Oman1, Poland2, Singapore2, South Africa1, Spain2, Sri Lanka, Sweden2, Switzerland2, Syria, Tonga, Turks & Caicos Islands2, United Kingdom and Northern Ireland.2 Austria, Barbados, Botswana, Burkina Faso, Cameroon, Chile, Czech Republic, Egypt, Gambia, Georgia5, Guinea, Hungary, Kenya, Lebanon5, Lesotho, Malawi, Morocco, Nigeria, Romania, Senegal, Sierra Leone, Tanzania, Tunisia, Uganda, Zambia . Footnotes: These countries have introduced domestic legislation to give effect to the Hague-Visby Rules; they are not , however, officially parties to the Brussels Protocol of 1968 and are not therefore contracting states. States which have ratified the SDR Protocol. Under Greek law, Greece will apply the Hague-Visby Rules also to carriage between non-contracting states. New Zealand repealed its previous legislation on 1st February 1995. There is therefore a lacuna between that date and 20th March 1995. In relation to various countries which have ratified the Hamburg Rules, there is an absence of reliable information on whether domestic legislation has been introduced to give effect to the Rules. Where the latest information is that such a country has not introduced such legislation and where the country in question had previously given effect to the Hague or Hague-Visby Rules, this is shown by the use of brackets. In reality, the earlier regime may still apply in such countries for the time being. The Carriage of Goods by Sea Regulations 1998 have the effect of repealing part of Article X of the Hague-Visby Rules and replacing it with local modifications which are akin to some elements of the Hamburg Rules. Circular No. 4/2003 October 2003 TO THE MEMBERS OF ASSURANCEFORENINGEN GARD -gjensidig- Dear Sirs COMPOSITION OF THE COMMITTEES REVIEW OF POLICY YEARS PREMIUM RATING FOR THE 2004 POLICY YEAR GARD P&I HALF YEAR STATUS REPORT AS AT 20 AUGUST 2003 Introduction This document highlights the decisions taken at the meeting of the Committee of Assuranceforeningen Gard -gjensidig- (the Association) held in Geneva on 25 and 27 October 2003. As to the developments of closed and open policy years a fuller report will be found on our website www.gard.no. Composition of the Committees The Committee At the Association s Annual General Meeting, which took place on 15 August 2003 in Arendal, the following new members were elected to the Committee: Trond Eilertsen, Oslo Sergio Machado, Petroleo Brasileiro S. A. (Petrobras), Rio de Janeiro Jamal A Al-Rammah, Saudi Arabian Oil Company, Dhahran Ola Lorentzon, Frontline Management AS, Oslo Peter Swift, OSG Ship Management, Inc., Newcastle/New York At the meeting held in Geneva on 25 and 27 October 2003 the Committee re-elected Leif Terje Loddesol of Wilh. Wilhelmsen ASA, Oslo, as its Chairman and Stephen Pan of World-Wide Shipping Agency (S) Pte. Ltd., Singapore, as its Vice Chairman. The Executive Committee The Annual General Meeting held on 15 August 2003 elected Bengt Hermelin, Saudi Maritime Holding Co., London as a new member of the Association s Executive Committee. At the meeting held on 17 September 2003, the Executive Committee re-elected John Hatleskog of Havinvest A/S, Oslo, as its Chairman. Dieter Ostendorf of Aug. Bolten Wm. Miller s Nachfolger, Hamburg, was re-elected as the Vice Chairman of the Executive Committee. Review of policy years Closed years Closed years up to and including the 1999 policy year progress somewhat better than projected. 2000 policy year closed The Committee decided to close the 2000 policy year without ordering a further Supplementary Call. Open policy years The 2001 and 2002 policy years are likely to be closed in October 2004 and 2005 respectively without further Supplementary Calls being levied. The 2003 policy year the first six months of the year have seen an increase in reported claims compared with the previous years. The increase must be seen against the increase in tonnage, the number of ships entered and a shift in the composition of the entered tonnage, all of which are reflected in a higher premium level. Members should continue to budget with the full Deferred Call of 25 per cent being levied. Release Calls The Committee resolved that the Release Calls for open policy years be set as follows: For the 2001 policy year: nil For the 2002 policy year: 25 per cent For the 2003 policy year: 50 per cent For the 2004 policy year: 50 per cent Premium policy for the 2004 policy year Mutual entries In light of the Association s financial strength, the Committee decided that the general increase for 2004 should be set no higher than necessary. Accordingly, the Committee resolved that there be a 7.5 per cent general increase in the Advance Calls for both P&I and FD&D in respect of mutual entries and in the fixed premiums for FD&D entries for charterers. The Deferred Call for mutual entries is set at 25 per cent of the Advance Call. In addition, separate adjustment will be made in each Member s premium rating to reflect any changes in the cost of the International Group s reinsurance arrangements for the 2004 policy year. As is customary, in addition to the general increase, Members premium rating will be reviewed in the light of their individual loss records and other relevant factors. Further details about the International Group and the Association s reinsurances for the 2004 policy year will be published later. Fixed premium entries There will also be a general increase of premiums for Charterers entries and other fixed premium products. The level of premium for these fixed premium products will depend on the individual Member s loss record and market conditions, including the requirements of the Association s reinsurers. Individual premium rating Each Member s premium will, as usual, be assessed individually in the light of his loss record and the cost of reinsurance. All Members will receive shortly the loss record for their respective fleets. Members who have not heard from the Association by 20 January 2004 may assume that there will be no changes in the premium rating for next year, save for adjustments based on the general increase and variations in the reinsurance costs. Gard P&I - half year status report as at 20 august 2003 Tonnage Total tonnage entered as at 20 August 2003 was 116 million GT of which owners mutual entries represented 67 million GT. Comparable figures as at 20 February 2003 were 112 million GT and 65 million GT respectively. Balance available for outstanding and unreported claims general contingency reserve As at 20 August 2003 the balance available to meet outstanding and unreported claims amounted to USD 723 million, of which the general contingency reserve represented USD 276 million. Comparable figures as at 20 February 2003 were USD 674 million and USD 242 million respectively. The increase in the contingency reserve is mainly a result of an estimated surplus for the 2003 policy year at six months from inception and a reduction in the estimated liabilities of earlier years. Investment income The net gain on the non-technical account (investment income) amounts to USD 39 million in the six-months period to 20 August 2003. We urge you to view the full report on www.gard.no. If you have any questions, please contact Senior Vice President Sven-Henrik Svensen. Yours faithfully GARD SERVICES AS As agent only for Assuranceforeningen Gard -gjensidig- Claes Isacson Chief Executive Off The new joint management company for managing the P&I activities of Assuranceforeningen Gard and the Marine & Energy activities of If P&C Insurance. Gard Services