Standard Bulletin, March 2017

John Reily opens this bulletin with an update on the 2017 renewal. Read on page 1.

The pay-to-be-paid rule
This article reviews some of the erosions to the pay-to-be-paid rule over the years. Read on page 8.

What will Brexit mean?
This article explores the potential Brexit scenarios. Read on page 6.

Club cover for wreck removal
This article provides a summary of club cover for wreck removal, explains the difference between wreck removal and salvage liabilities, and addresses specific issues concerning lost anchors. Read on page 16.

Fine Art and Specie Consortium
The new Specie Consortium 9654, set up by The Standard Syndicate, was launched on 1 January 2017. It is led by The Standard Syndicate’s Fine Art and Specie Class Underwriter, Joshila Tailor. As a recognised market leader, she has attracted joint capacity of $65m to support the personal and corporate fine art and specie underwriting needs of members of The Standard Club. Read more on page 14.

Discretionary claims
This article looks at the types of discretionary claims and the process for members applying for their claim to be approved by the board. Read on page 11.

Cyber risks and P&I insurance implications
In this article, we outline how standard P&I cover generally operates in respect of shipboard cyber risks. Read more on page 4.

Peace of mind – complex logistical medical and security assistance
CEGA Group is a specialist global provider of technical medical and security assistance and travel claims management services to organisations and insurers. Here, the company’s commercial director, Jody Baker, answers a few questions about the services that it provides. Read on page 18.