This year's Annual Review reports strong financial results, continued strategic progress and enhanced support for shipowners operating in an increasingly complex and uncertain global environment.
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The club has received Notice of Cancellation from reinsurers in respect of certain war risks that are reinsured by the club in the commercial market. As a result, it has now become necessary for the club to issue corresponding Notice of Cancellation in respect of those same war risks.
This Circular constitutes such Notice of Cancellation in accordance with the terms of the following extensions:
War risks clause for additional covers 2026;
Offshore P&I war risks clause 2026;
Fixed P&I war risks clause 2026;
P&I war risks clause 2026 attached to charterers’ entries;
Clause 2 of Section C of the Traders’ Liability Cover 2026; and
Offshore bio-chemical risks inclusion clause 2026;
This Circular also constitutes such Notice in accordance with the terms of any 2025 editions of the above extensions that may apply to events occurring after 24:00 hours BST on 15 August 2026.
This Notice shall run from 24:00 hours BST today and will expire at 24:00 hours BST on 15 August 2026. With effect from 00:00 hours BST on 16 August 2026, cover under the above extensions will be automatically excluded in respect of:
The waters enclosed by the following (the Boundaries):
a) on the northwest, by the Red Sea, south of Latitude 25°30’N
b) on the northeast, from the Yemen border at 16°38.5’N, 53°6.5’E to high seas point 14°55’N, 53°50’E
c) on the east, by a line from high seas point 14°55’N, 53°50’E to high seas point 10°48’N, 60°15’E, thence to high seas point 6°45’S, 48°45’E
d) and on the southwest, by the Somalia border at 1°40’S, 41°34’E, to high seas point 6°45’S, 48°45’E
excepting coastal waters up to 12 nautical miles offshore of territories which are wholly or in part within the Boundaries.
The coastal waters exception above does not include the Bab el-Mandeb Traffic Separation Scheme, the Red Sea coast of Saudi Arabia that lies within the Boundaries, or the Yemeni coast.
This Notice does not alter the position of any other area currently restricted or excluded under respective policies. All other terms and conditions remain unchanged.
It is appreciated that the above extensions do not form part of the insurance of all Members or insureds and, for those that do not purchase them, this Notice is for information only.
If you have any questions regarding the above, or wish to reinstate cover on terms to be agreed, please contact your usual club underwriter.
THYA KATHIRAVEL
Chief Underwriting Officer
NorthStandard Limited
Circular Ref: 2026 / 013
