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 Members’ policies, in particular Rules 3.2, 3.33 and 3.34 and JL2022-020.
This Circular also constitutes such Notice in accordance with the terms of any 2025 and 2026 policies that may apply to events occurring after 24:00 hours BST on 16 August 2026.
This Notice shall run from 24:00 hours BST today and will expire at 24:00 hours BST on 16 August 2026. With effect from 00:00 hours BST on 17 August 2026, cover under Rules 3.2, 3.33 and 3.34 and all losses, costs or expenses caused by or arising out of or which are in any way connected to any War risks occurring or arising in the waters specifically mentioned below will be automatically excluded in respect of:
The waters enclosed by the following (the Boundaries):
on the northwest, by the Red Sea, south of Latitude 25°30’N
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
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
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 cover referenced above does not form part of the insurance of all Members and, for those that do not purchase them, this Notice is for information only.
If you have any questions regarding the above, please do not hesitate to contact your usual club contact.
NICK WOLFE
Chief of Specialty Sectors
NorthStandard Limited
Circular REF 2026/014
