Important information Supporting all Members and brokers in difficult times

To all TT Club Members and brokers,

We understand that the developments in Ukraine bring challenging and uncertain times for you, our Members and brokers, but also the industry as a whole and our thoughts go out to all those affected.

The current situation is extremely fluid and the consequences to transport and logistics operations are uncertain. It is impossible to give any meaningful, general advice about how these events could impact our Members because any potential liability will be determined by the individual contractual terms that may apply and/or the local laws of the various jurisdictions that may be involved. Therefore, we encourage you to get in touch with us if you have any queries or concerns regarding your policy or operations, either now or as the situation develops.

We can, however, inform you that the Club has updated the list of excluded areas under its covers for Marine War Risks, Piracy and Strikes Riots & Terrorist Risks, to reflect changes in the Listed Areas issued by the Joint War Committee (JWC) of Lloyd's in February 2022. This is consistent with the Club's policy, which is to remain in line with the JWC. You can read the full circular below:

 

Charles Fenton

TT Club

Date07/03/2022

Tags

You may also be interested in:

TT Club is supporting NaVCIS Freight and its aim of obtaining increased public funding to combat freight crime

Are electronic bills of lading ready to alleviate inefficiencies in the transport industry? Read more about the perceived benefits and obstacles here

Carrier fraud accounted for 84% of TT claims involving fraud or deception in 2022.

Current geopolitical tensions have inevitably raised the stakes in general perception around security, as well as, tragically, huge displacement of the population of Ukraine. The sobering reality from experience is that criminals are quick to change their methods, exploit difficult situations and cause further human degradation.