In the aftermath of the Fukushima nuclear power plant disaster there has been considerable focus on the exclusion of nuclear radiation risks from most insurance policies.
In this connection, we wish to assure our members that there is no such exclusion of cover in the Nordisk Statutes. Thus disputes arising as a consequence of these sad circumstances will be dealt with and covered in the ordinary course. We also wish to remind the members that our legal staff continue to monitor events closely with a view to provide up to date advice in relation to trading to and from Japan.
Caution should be exercised when incorporating various charter party clauses now in circulation - these exist in both owner and charterer friendly versions.
We have drafted clauses in response to specific member needs and have also participated in the drafting of a BIMCO clause for time charters. The clause along with a Special Circular can be found via the below link . Click here