Publication
Relief from relief: Making handling relief events easier and more collaborative
Relief events clauses are included as standard provisions of most technology implementation, outsourcing and services contracts.
Updates to the Nordic Plan
Global | Publication | September 2024
The Nordic Plan is a preferred insurance plan increasingly used by ship operators and approved by financial institutions. This is based on the 2013 plan, last updated in 2023. Despite this, there are concerns that certain provisions in the plan are too narrow, leading to a refusal of cover in a number of recent cases, most recently in relation to the detention of a vessel by Houthi rebels in Yemen, which the insurers argued fell outside the loss of hire war risks insurance.
As a result of this, BankServe recently wrote to their clients advising against the use of the Nordic Plan for any war insurances. If you would like to find out more about BankServe’s reservations on this cover and how these concerns may be addressed, particularly in current circumstances of increased interference with international shipping by non-state parties, please contact us.
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Liability 101: Liability clauses in technology and outsourcing contracts
Liability is often a contentious topic (and typically the last provision to be agreed) in a technology or outsourcing contract negotiation.
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Understanding carbon capture and storage in Malaysia
Malaysia, where fossil fuels make up 96.6 percent of the country’s energy supply and whereby 2022 emissions reached 291 million tons of carbon dioxide, are working to play its part in the global fight against climate change and in the world’s sustainability endeavours and net zero ambitions
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