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Member, Beacon International Group, Ltd.
Insurers have called for a review of the General Average rule in the marine insurance market to handle vessels in ballast, reports Hellenic Shipping News Worldwide.
Although General Average is included in carriage contracts, recent events have shown that the rules do not particularly deal with ships in ballast.
Insurers and adjusters at a recent event in London discussed said there should be clarity on how parties should share costs following accidents of time-chartered ships, a factor that would involve revising Rule of Practice B26.