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Committee

Neil Roberts

Head of Marine & Aviation
Committee secretary

Richard Costain

Chair

Christopher Hicks

Deputy Chair

Key issues covered

The Joint Cargo Committee provides a representative forum for appropriate discussion of current issues and challenges facing the marine cargo market.

Piracy

The Committee retains the services of S&P Global (previously IHS) to provide them with detailed and timely briefings of the changing security threats around the world, available here.

Disclaimer: The Global Cargo Watchlist (the “Watchlist”) is provided by the LMA, IUA and S&P, and reflects S&P’s opinion which is for information only. It is aimed at LMA and IUA members, and insurance market participants. The content of the Watchlist is not definitive or binding on any party. Parties may reach different conclusions as it is for them to decide whether any of the analyses contained within the Watchlist aligns with their own view. Neither the LMA, IUA or S&P nor any party involved in the preparation of the Watchlist accept any liability arising from reliance on the Watchlist.

Misappropriation

The recent experience of theft by misappropriation has led to a greater understanding of the developing operating methods and increased exposures of goods in store. Misappropriation exclusion and misappropriation inclusion clauses, including definitions of the perils faced, are available on the LWR.

Basis of Valuation

The increasing disparity between production and sales costs, where goods can be replaced, has been recognised by the committee and an appropriate clause is now available on the LWR.

Cyber

The Prudential Regulation Authority (PRA) has asked insurers to identify, quantify and manage their cyber risks. The definition of cyber remains fluid.

Wordings

The JCC helps to develop and issue wordings for use across the market. To receive email notification of new wordings, please subscribe.

JC2024-025 War and Strikes Perils: Notice of Cancellation Administration
JC2023-024 Five Powers War Clause

Upcoming events

For events hosted online, joining instructions will be emailed to all registered attendees closer to the date of the event no later than 24 hours prior to commencement.
View more events
Janine Powell, Claims Director at the LMA, is speaking at this year's London Market Claims Conference.
The LMA Claims Operations Leadership Group invites claims operations managers and claims management to attend the upcoming forum.
The LMA's Terrorism and Political Violence Committee invites members to its quarterly market forum.