The Joint Hull Committee (JHC) once ruled the London insurance market with a rod of iron and would sit in judgement, admonish and maybe even punish “errant” underwriters who failed to impose rate increases.
But its market policeman role went 20 years ago — and the result is that today’s JHC is a largely technical organisation that advises underwriters on a huge range of matters such as catalytic fines, liquefaction of bulk cargoes, ship condition surveys, crew competence, sanctions, classification, shipyard fires, ship inspections, salvage, general average and the transfer of piracy cover from the hull to war risks policy.
And,
