Container meaning

On 7 August 2024, the insurer—listed on the London Stock Exchange yet domiciled in Bermuda—confirmed the loss would be borne by both its Lloyd’s of London syndicate and its reinsurance arm within the group. The MV Dali container vessel struck the Francis Scott Key Bridge soon after its departure from the Port of Baltimore on 26 March 2024, bringing down part of the structure and leading to fatalities. Specialists now forecast it will count among the priciest marine insurance catastrophes for the market overall...

Insurance & Reinsurance weekly highlights—28 March 2024 In this issue: Baltimore bridge crash Coronavirus (COVID-19) Cases and decisions Types of insurance Market practice Regulation New and updated content Case trackers Key dates Daily and weekly news alerts LexTalk®Insurance: a Lexis®Nexis community Baltimore bridge crash On 26 March 2024, Britannia, the UK marine insurer, confirmed it is liaising with Baltimore authorities after a container vessel destroyed the city’s iconic Francis Scott Key Bridge in a collision that experts predict will trigger insurance claims running into billions of dollars. See News Analysis: UK marine insurer investigating Baltimore bridge crash. Coronavirus (COVID-19) Four years have passed since the UK first went into lockdown to tackle coronavirus (COVID-19), leaving offices deserted, shops closed and practitioners debating the framing of business interruption claims. See News Analysis: Four years on, coronavirus (COVID-19) lockdown cover claims near endgame. Business interruption (Oaxaca Ltd t/a Wahaca v QIC...

Arthur J Gallagher noted on 21 April 2025 that pricing was easing as competition in the market intensified, even after several significant losses in early 2025. Underwriters may have to pay as much as US$300m in potential payouts after the North Sea collision in March 2025 involving the container vessel Solong and the oil tanker Stena Immaculate. Gallagher also cautioned that machinery repair claim costs were climbing steadily amid broader global inflation. 'Broad-based rate cuts, together with rising claim expenses, can...

The Control of Pollution (Oil Storage) (England) Regulations 2001, SI 2001/2954, and the Water Resources (Control of Pollution) (Oil Storage) (Wales) Regulations 2016, SI 2016/359—together the Oil Storage Regulations—are intended to prevent contamination of land and water. Threshold for storage capacity The Oil Storage Regulations apply to organisations and individuals with custody or control of an oil storage container at business premises and public sector buildings where the capacity is 201 litres or more. The English Regulations also capture domestic premises or barges in England that hold any oil storage containers of 3,501 litres or above. Oil storage containers The Oil Storage Regulations generally cover the storage of oil, subject to exemptions that differ between England and Wales. See table below — Exempt oil storage containers. Oil Storage Regulations Guidance issued by the Environment Agency (EA) and the Department for Environment, Food & Rural Affairs (Defra), applying in England and Wales, provides examples of storage containers within scope: oil drums and fixed tanks...

This Practice Note offers practical guidance on the rules of origin applicable to trade in goods under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) between parties. This guidance excludes, in particular, the specific regional value content requirements applicable to certain automotive goods. Introduction Rules of Origin are the criteria used to establish a product's origin. Under the CPTPP, these rules are significant for trade between the parties to the CPTPP, because only those goods regarded as originating within CPTPP territories can obtain preferential tariff treatment, most of which is, in practice, zero-rated. For further direction on trade in goods under the CPTPP, and on the corresponding tariff commitments that apply, please see Practice Note: UK's trade in goods under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Goods that are non-originating are subject to the tariff treatment generally provided for under the World Trade Organization (WTO) framework, under which such goods attract the Most Favoured Nation (MFN) rate that applies to all WTO Member...

This Practice Note offers practical guidance on the rules of origin relevant to trade in goods under the Australia United Kingdom Free Trade Agreement (Aus-UK FTA). Introduction Rules of origin set the criteria for determining where a product is from. Establishing origin is crucial for trade between Australia and the UK, as only goods treated as originating in either territory benefit from preferential tariffs, which are predominantly zero-rated. For further guidance on trading in goods and the tariff commitments under the Aus-UK FTA, see Practice Note: Trade in goods under the Aus-UK FTA. Goods that are not originating are subject to tariff treatment under the World Trade Organisation (WTO) framework and will attract the Most Favoured Nation (MFN) rate that applies to all WTO Member States. For guidance on MFN, see Practice Note: An introduction to Trade in Goods. For the WTO’s Agreement on Rules of Origin, see Practice Note: An introduction to the Rules of Origin. Which goods are deemed to originate in either party? ...