FOIL teams to address marine and environmental risks

FOIL and London FOIL have launched two new sector focus teams to address some of the key issues faced in the marine and environmental sectors.

Among the initial areas of focus for both groups will be the large number of marine vessels that are decommissioned and recycled in ways contrary to international law and the damage this causes to the environment.

The marine group will also be tackling some of the sector’s challenges from underlining where liability lies for mis-declared cargo, to the increasing size of cargo ships and liability for breaches of the Emissions Regulations 2020.

Meanwhile the environmental group will examine climate change, the rising trend of green energy investment, and the associated risk and liability issues that come with that.

Chief executive of FOIL, Laurence Besemer said: “There is no escaping the onslaught of climate change and the public pressure being placed on the global insurance market to do the right thing – this brings about unprecedented challenges. By bringing together the sector’s leading experts under one umbrella, FOIL is well-placed to support the insurance industry and tackle some of the biggest challenges facing the sector.

“The London marine insurance market is one of the oldest and largest in the world and we are proud to be launching a new team to support this market as it navigates a post-COVID world.

“Whilst insurers and their legal advisers will of course want to differentiate themselves from one another in their approach, there is an understanding that when it comes to the biggest issues facing business, the most important thing is consensus. We must all work together to overcome future hurdles – and this is precisely what these new teams are set up to offer.”

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