Press Article: Regulatory risks of green shipping are issue for insurers
News & Insights 22 December 2020
Insurers ignore at their peril the changing nature of risks in the maritime sector as the range of environmental regulations affecting the sector expands, Akshat Arora, of Standard Club reports in Lloyd's List Dec/Jan issue.
Year 2020 marked the implementation of the much anticipated global 0.5% m/m sulphur cap regulation, commonly referred to as ‘IMO-2020’. However, the potential consequences from the fallout of IMO-2020 were overshadowed by the impact of the COVID-19 pandemic.
The pandemic also forced the International Maritime Organization (IMO) meetings planned to be held between March and July 2020 to be postponed and reconstructed on a virtual platform during the later part of this year, which effectively slowed down the pace of some key work done on the regulatory front.
Read the full article on pages 44-45 of the December/January issue of Lloyd's List Magazine, linked here.
Categories: Loss Prevention