Press Article: Regulatory risks posed by green shipping are an issue for insurers
News & Insights 7 December 2020
Akshat Arora, Senior Surveyor at Standard Club, discusses regulations, and the pathway to the decarbonization of the maritime industry, with Insurance Day.
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 page 7 of the December/January issue of Insurance Day, and accessed online here.