The Lord Chancellor last week announced a change in the discount rate following a review under the Civil Liability Act 2018. As of 5 August 2019, the discount rate will increase from -0.75% to -0.25%.

In response to the incidents that took place in the Gulf of Oman (GOO) last week, and the seizure of the Stena Impero in particular, the Club would like to draw Members attention to the following advise published by the BIMCO Maritime Security Committee.

As vessels and equipment on board become increasingly smarter, seafarers are required to learn additional skills for the ongoing operation and maintenance of this technology.

In 2018, the Club proudly launched a dedicated autonomous vessel P&I policy, the first of its kind in the world. The Club consulted owners, operators and manufacturers of autonomous vessels to ensure they had the right cover in place so that Members can focus on their operations knowing they are appropriately covered if anything should go wrong.

The final article in our cyber risks series, produced in collaboration with Secure State Cyber, focuses on the benefits of antivirus software, the importance of contingency plans in the event of a cyber-attack and what actions Members can take to ensure good security practice on board their vessels.