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Lloyd’s commits to the future of the Lloyd’s Salvage Arbitration Branch
In a move that has been strongly endorsed by UK maritime professional services body Maritime London, Lloyd’s has confirmed that it will continue to operate the Lloyd’s Salvage Arbitration Branch (LSAB) that oversees the Lloyd’s Open Form (LOF) salvage contract and procedures.
The Lloyd’s Council decision follows an industry-wide consultation over a proposal to put LSAB into ‘run off’ in the face of declining use of LOF – whether through improved safety of the maritime industry or a growing resistance by insurers to the Form’s risk-based structure.
Association of Average Adjusters champions highest professional standards amid challenges of an “extraordinary year”
At the Association of Average Adjusters recent virtual annual general meeting, the over-riding message from chairman Michiel Starmans was that “the association has continued vigorously to serve the marine market and support its members professionally in the face of a most extraordinary year with the Pandemic putting nearly all Association events on hold.”
Mr Starmans said: “The committee of management has continued to undertake the day-to-day business via virtual meetings hosted on Zoom. Although not as pleasant as actually meeting up in person, it has at least allowed us all to see each other and discuss ongoing matters. I very much hope we can all meet in person in the forthcoming 12 months.”