United Insurance Brokers Ltd

Cargo claims guide 2020 United Insurance Brokers Ltd Marine Cargo

CONTENTS

Introduction ...... 3

Our service ...... 4

General ...... 6 Prompt Reporting ...... 6 Duty of Assured and Liability of Carriers, Bailees or other Third Parties ...... 6 Documentation (General Cargo) ...... 7 Documentation (Bulk Cargoes (Oil/Gas/Liquid/Dry Commodities and Similar) ...... 8 Delay in Start Up Insurance (DSU) ...... 9 General Average ...... 9 General Average Documentation ...... 10 Salvage ...... 10

Guideline time frames for presenting Claims on Carriers ...... 11

Incoterms ...... 12

Sample Notice of Claim against Carrier ...... 14

Sample Letter of Indemnity Wording ...... 15

Sample Payment Authority Wording ...... 16

Subrogation ...... 17

Dictionary of useful Marine Cargo Terms ...... 19

2 Marine Cargo claims guide | 2020 United Insurance Brokers Ltd Marine Cargo

Introduction

Welcome to our Marine Cargo claims guide. We hope this will serve as a useful reference guide for you.

Trade is far from simple A question

The complexities of an insurance transaction that are What do you buy when you take out an insurance covered in a few words in the insuring terms are only policy? The transfer of premium should always lead ever truly tested by claims. UIB’s acknowledgement to the efficient payment of any recoverable loss. of this drives us to offer a complete claims service. UIB’s Marine Claims Division provides this service We appreciate that the standard and level of service to our clients. we provide is of paramount importance. UIB London understands this and has built its entire business culture UIB prides itself in offering a claims service that can around claims service. support our clients in all activities globally. Claims are our shop window. We readily acknowledge that one We aim to have detailed discussions with clients of the main reasons for you, the client, purchasing to implement the structures that will assist in seamless insurance cover is the knowledge that in the event claims handling. We appreciate that the co-ordination of a claim, matters will be handled in a prompt, between many parties is often critical to the provision “no nonsense” and professional manner. of this service and have built our team in London accordingly. UIB takes pride in the fact that we are able to provide a professional and prompt claim service.

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Our service

It is our goal to offer a complete service to facilitate in the efficient settlement of claims and recoveries to: Integration into the team

1. Support your customer relationships The UIB claims team is a vital part of the service provided. All members of the marine cargo division have undergone 2. Protect your cash flow and continually undergo training on all aspects of 3. Produce management reports, if required claims including conditions of carriage and exchanges/ amendments in applicable maritime law etc. The Understanding the principles and uniqueness of trade connection between claims and the insurance contract must be appreciated, explored and understood to provide underpins the service that UIB provides. a full service. The UIB claims culture has developed out of our desire to provide a complete service to our clients. It is critical that all aspects of the process of risk transfer are seamless and efficiently handled. UIB maintains the view that the claims service is at the core, so much so that Our Service falls into two main categories: it actively encourages the involvement of our claims team from the very start of negotiations with any prospective 1. Losses recovered under your marine cargo policy new client. 2. Losses suffered, but insured with a third party interest Responsibility

Losses resulting from your insured purchases can We believe that the insurance transaction is not complete create an administrative burden. until all aspects have been finalised. We gladly accept the responsibility of working in partnership with our clients to UIB is staffed to provide a claims service in this aid in the speedy, efficient and stress-free conclusion to regard. any claim and. We endeavour to respond to/acknowledge receipt of your claim on the same working day that it was presented whenever possible. So many terms exist that allude to the service the insurance community provides. We do not propose to examine these in detail, more importantly we hope to demonstrate that our expertise carries a value that extends beyond the competitive arena of achieving coverage at the least cost. UIB offers solutions to all aspects of insurance buying.

Through a process of continuous training with industry experts UIB has built a team of senior claims professionals whose advice is respected not only throughout the London market but also within many International markets.

4 Marine Cargo claims guide | 2020 The UIB claims culture has developed out of our desire to provide a complete service to our clients. United Insurance Brokers Ltd Marine Cargo

General Prompt reporting Duty of assured and liability of carriers, bailees(1) or other The global insurance markets have developed protocols for the handling of claims and responsibilities of each third parties party. Cargo insurance has clearly defined these and the major markets act in concert. Within this document It is the duty of the Assured and their Agents, in all cases, we provide a commentary on what is required plus to take such measures as may be reasonable for the guidance notes. All should be aware that each insurance purpose of averting or minimising a loss and to ensure is an individual contract and could contain exceptions or that all rights against Carriers, Bailees or other third additional requirements – if in doubt please contact UIB parties are properly preserved and exercised. (Re)Insurers for further advice. will reimburse you for any expenses that are properly and reasonably incurred in pursuance of these duties resulting For all claims being advised under a cargo insurance from an insured peril. In particular, the Assured or their contract, prompt reporting of loss or damage is essential Agents are required:- in order to permit the appointment of a surveyor (if deemed necessary) or to take any other action felt 1. To claim immediately on the Carriers, Port necessary to assist in minimising the loss and handling Authorities or other Bailees for any missing the claim. packages.

Unless the policy requires direct notification to your (re) 2. In no circumstances, except under written protest, to give clean receipts where goods are in doubtful insurers (refer to your policy conditions), then immediate condition. notification of a potential claim should be made to UIB. We, as your agent, will in turn promptly notify your (re) 3. When delivery is made by Container, to ensure insurers and communicate in writing any instructions that the Container and its seals are examined or comments your (re)insurers issue. We will continue immediately by their responsible official. If the to communicate with you and diligently pursue claim Container is delivered damaged or with seals broken settlement on your behalf from (re)insurers. or missing or with seals other than as stated in the shipping documents, to clause the delivery receipt For a full list UIB claims and placing contacts, please refer accordingly and retain all defective or irregular seals to the back page of this guide and/or the claims guide for subsequent identification. which is contained within your Evidence of Cover. 4. To apply immediately for survey by Carriers’ These notes/guidelines provide important notices to or other Bailees’ Representatives if any loss claimants and should be followed as they set out best or damage be apparent and claim on the Carriers insurance practice. or other Bailees for any actual loss or damage found at such survey.

5. To give notice in writing to the Carriers or other Bailees within 3 days of delivery if the loss or damage was not apparent at the time of taking delivery

NOTE: The Consignee’s or their Agents are recommended to make themselves familiar with the Regulations of the Port Authorities at the port of discharge.

(1) Bailees: A party (e.g. port and/or dock authority, warehouseman, container operator, etc) who enters into a contract of bailment (a contract that incor- porates conditions under which the bailee agrees to care for the property of the bailor) with the bailor to look after the goods whilst in the care of the overseas carrier is also a bailee in regard to the contract of carriage. A bailee has an insurable interest in his potential liability under the contact.

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Documentation – General Cargo

Complete documentation must be forwarded to UIB (and/or surveyor if one is required). Documentation will include, if and where applicable:

1. Original Bill(s) of Lading/Airway Bill(s) (B/L) or a copy of both sides of original B/L

2. Packing List

3. Commercial Invoice

4. Original insurance certificate or declaration details as applicable

5. Written claim against the carrier(s)/freight forwarder(s)

6. Confirmation of non-delivery or carrier reply if received

7. Itemised claim statement

8. Delivery receipt

9. Repair/Expense bills

10. Any other documentation particular to loss which may be necessary

This list of documentation should be viewed as a basic guide list as the items insured, the cause of the loss or one of many other reasons and (re)insurers may call for additional supporting documentation.

Upon receipt of all necessary information, the claim will be reviewed, adjusted by UIB and forwarded to your (re)insurers.

As there is the potential for prejudicing recovery/ subrogation(2) rights under the policy, no settlement should be accepted from a carrier responsible for loss or damage without first obtaining approval from (re) insurers via UIB.

It is important that exceptions be taken in writing on all receipts. This will not only facilitate the processing of the claim with (re)insurers but is also extremely important for subrogation purposes.

(2) Subrogation – See Page 16 for further details

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Documentation – Bulk cargoes (oil/gas/liquid/dry commodities and similar)

Bulk cargo claims differ from general non-bulk cargo The following documents/procedures will normally be claims. The supporting documentation for a loss, required in support of any claim presented for settlement especially under a “Guaranteed Outturn” (GOT) cover, will under the policy: be more extensive than for other cargoes. 1. Copy of independent inspector’s loading report In the event of an occurrence that could give rise to a 2. Copy of independent inspector’s discharge report claim under the policy, immediate notification should be given to UIB to enable us to consult (re)insurers regarding 3. Original Bill of Lading or a copy of both sides of possible appointment of independent loss adjusters and/ original Bill of Lading or chemical analysts. 4. Copy of Charter Party It is strongly recommended that UIB be advised of all losses or situations which may give rise to a loss under 5. Copy of Commercial Purchase and Sales Invoice your policy. This enables UIB to give provisional notice to (re)insurers and to monitor the progress of the claim and 6. Copy of Commercial Purchase and Sales Contracts its adjustment, particularly with regard to protection of 7. Fully sealed samples of the cargo should be any possible time bar situations. taken at loadport/during loading on board the carrying vessel and at discharge port. These are to be retained indefinitely for possible testing by analytical chemists, in the event of a claim for alleged contamination.

8. Original insurance certificate or declaration details as applicable

9. Written claim against the carrier

10. Itemised claim statement

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Delay in Start Up insurance (DSU)

If your contract provides cover for Delay in Start Up (DSU) or Advanced Loss of Profits (ALOP), we would remind you that in the event of loss of, or damage to, a critical item and/or any item where the time frame for replacement or repair could possibly result in a delay in start-up of the project, it is extremely important that immediate notice is given to UIB to enable us to seek (re)insurers’ instructions.

In such circumstances it is likely that (re)insurers will immediately instruct a surveyor or an adjuster with whom we would request that you/the (re)assured fully liaise and cooperates with a view to minimising and mitigating the loss.

General Average

The carriage of goods by sea is deemed to be a joint In the event of additional or extraordinary costs being venture between ship-owners and cargo-owners, and incurred in successfully (or partially) saving the venture, the maritime convention places a responsibility on the ship-owners will look to cargo owners to contribute ship-owner to safeguard the common interest and towards such costs. In such circumstances, ship-owners incur necessary additional or extraordinary costs in so may declare General Average, and in doing so will doing. There is no governing international statute and automatically exercise a Maritime Lien on the cargo for its consequently the “Comite Maritime International” C.M.I. pro-rata [proportional] share of the total additional and/ sponsored conditions (York-Antwerp Rules 1974 – and or extraordinary costs. subsequent amendments) are incorporated in most marine contracts of carriage (Bills of Lading). Before any cargo is released ship-owners will require from each Bill of Lading holder a signed General Average Bond Situations may arise whereby the carrying vessel plus either a cash deposit or a General Average Guarantee experiences a fortuity [incident] during the course of signed by Cargo (re)insurers, based on the percentage of the voyage resulting in additional and/or extraordinary expenses being incurred by the ship-owners. Typical the invoice value of the of the cargo deemed to reflect examples of a fortuity are engine/machinery breakdown, the proportion due from cargo interests. fire, or collision with another vessel and/or fixed or floating object, such incidents resulting in additional expenditure in saving the venture/cargo.

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General Average documentation Salvage

Since the insurance policy covers General Average In certain situations the vessel may require the services expenses, your (re)insurers will issue their own General of a salvage company. Average Guarantee to ship-owners instead of the cash deposit. For your guidance this procedure is universally In such an event Salvors will require salvage security from accepted. It should be pointed out that whilst (re)insurers cargo owners and will retain a maritime lien on the cargo will deal with the Guarantee aspect, shipowners will still until acceptable security is provided. Since the insurance require the Assured to complete the ‘General Average policy covers salvage expenses, your (re)insurers will issue Bond’ (the Average Bond is your guarantee to provide their own salvage security. Upon receipt of a demand for full information and to pay the contribution when due). salvage security, immediate notice should be given to UIB and the following information provided: To facilitate prompt release of the cargo, it is essential that UIB are immediately notified of the incident, 1. Copy of the salvage demand, together with copies and that the following information is provided: of all correspondence received from the ship- owners and/or Salvors 1. Copy of the completed General Average Bond, together with copies of all correspondence 2. Copy of commercial invoice received from the ship-owners and/or their Copy of ocean Bill of Lading appointed General Average Adjusters 3. 4. Copy of Certificate of Insurance or declaration 2. Copy of commercial invoice details as applicable 3. Copy of ocean Bill of Lading Upon receipt of the above, immediate steps 4. Copy of Certificate of Insurance or declaration can be taken to issue the Salvage details as applicable Upon receipt of the above, immediate steps can be taken to issue the General Security, which will facilitate release and delivery Average Guarantee, which will facilitates release of the cargo. and delivery of the cargo.

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Guideline time frames for presenting claims on carriers

Air freight shipments

Loss, Damage Non-Delivery Suits for Loss Convention or Delay Concealed Damage or Delay Damage

Damage: 14 days from delivery 120 days from shipping 2 years from arrival Hague Protocol 14 days from delivery Delay: 21 days date or scheduled arrival

Warsaw 7 days from delivery 7 days from delivery Refer to Airway Bill 2 years from arrival

Damage: 14 days from delivery Montreal 21 days from delivery Refer to Airway Bill 2 years from arrival Delay: 21 days

Ocean vessel shipment

Loss, Damage Non-Delivery Suits for Loss Convention or Delay Concealed Damage or Delay Damage

1 year from delivery Hague/ 1 year from delivery Report in writing within 1 year from unless extended in Hague Visby or scheduled delivery 3 days of delivery Scheduled Delivery writing from the carrier

2 years from delivery Damage: Next working day 2 years from Hamburg 15 Days unless extended in Delay: 60 days from delivery Scheduled Delivery writing from the carrier 2 years from delivery Damage: Day of delivery 2 years from unless (when ratified) Rotterdam Rules 7 working days Delay: 21 days from delivery Scheduled Delivery extended in writing from the carrier

Via rail and/or truck

These vary in each country and you should determine the limits for presenting written notice in accordance with the laws of the appropriate country.

The above should be used as a guideline only. You should always refer to the terms and conditions of each contract with the carrier.

Marine Cargo claims guide | 2020 11 Incoterms

The Incoterms rules or International Commercial terms are a series of pre- defined commercial terms published by the International Chamber of Commerce (ICC) widely used in international commercial transactions. A series of three-letter trade terms related to common sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs and risks associated with the transportation and delivery of goods. Incoterm rules are accepted by governments, legal authorities and practitioners worldwide for the interpretation of most commonly used terms in international trade. They are intended to reduce or remove altogether uncertainties arising from different interpretation of the rules in different countries The latest Incoterms (2010) came into force on the 1st January 2011 and have reduced from 13 to 11 which has been achieved by substituting two new rules – DAT (Delivered at terminal) and DAP (Delivered at Place) – for the Incoterms 2000 rules DAF, DES, DEQ and DDU. The two new rules may be used irrespective of the agreed mode of transport. United Insurance Brokers Ltd Marine Cargo

The 2010 Incoterms rules are presented in two distinct goods. If it is intended that the seller is to bear all the classes: costs and responsibilities from the terminal to another point DAP or DDP may apply.

A. Rules for any mode DAP – Delivered At Place of transport The seller delivers the goods when they are placed at the disposal of the buyer on the arriving means of transport EXW Ex Works ready for unloading at the named place of destination. Parties are advised to specify as clearly as possible the FCA Free Carrier point within the agreed place of destination, because CPT Carriage Paid to risks transfer at this point from seller to buyer. If the seller is responsible for clearing the goods, paying duties etc CIP Carriage & Insurance Paid to consideration should be given to using the DDP term. DAT Delivered at Terminal (new for 2010 rules) DDP – Delivered Duty Paid DAP Delivered at Place (new for 2010 rules) Costs of delivery, including duty, paid up to a named DDP Delivered Duty Paid place in the country of importation. Applies to all modes of transport.

B. Rules for sea and inland FAS – Free Alongside Ship waterway transport All cost up to delivery on quay or in lighters (barges) at the named port of shipment. Sea or inland waterway FAS Free Alongside Ship transport only.

FOB Free on Board FOB – Free On board CFR Cost and Freight All costs up to loading on board vessel at the named port of shipment. Sea or inland waterway transport only. CIF Cost, Insurance and Freight

Some further explanation of the 2010 Incoterms: CFR – Cost and Freight As for CIF except that the cost of insurance is covered EXW – Ex Works by the buyer.

The goods are made available to the buyer at the CIF – Cost, Freight and Insurance exporter’s premises, suitably packed unless otherwise Cost of goods plus insurance and freight, duty unpaid, arranged for a known means of transport. to a named port of destination. Sea or inland waterway transport only. FCA – Free Carrier Cost of delivery, cleared for export, into the charge of the carrier named by the buyer at the named place or point. Allied mostly to air and rail transport but could be used for all modes.

CPT – Carriage Paid To As for CIP, except the cost of insurance is carried by the buyer.

CIP – Carriage and Insurance Paid To Costs of carriage and insurance of the goods, duty unpaid to the named destination. Applies to all modes of transport.

DAT – Delivered At Terminal Seller delivers when the goods, once unloaded from the arriving means of transport, are placed at the disposal of the buyer at a named terminal at the named port or place of destination. Both parties should agree the terminal and if possible a point within the terminal at which point the risks will transfer from the seller to the buyer of the

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Sample Notice of Claim against Carrier

To assist you, we have reproduced below a sample wording for claims on carriers – this can also be adapted for claims on third parties in general.

On company headed notepaper

Date: Address of carrier:

Dear Sirs • VESSEL OR CARRIER’S NAME: • BILL OF LADING NO. & DATE: • VOYAGE: • DESCRIPTION OF LOSS: • ESTIMATE OF LOSS: • REFERENCE NO:

We regret to advise that upon arrival of the above shipment certain shortage and/or damages were noted.

We are currently establishing the full extent of our loss, details of which will follow at a later date, however in the meantime we hold you fully responsible for this claim and all associated costs which may arise from it.

Your written acknowledgement of this letter is awaited.

Yours faithfully

Signed

Company name

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Sample Letter of Indemnity wording

To assist and to raise your familiarity with some of the requirements, please find hereafter sample letters that you might be asked to complete should circumstances dictate. Firstly one for missing documentation and secondly for payment of funds to a third party to the individual contract that has given rise to the claim.

On company headed notepaper

Date: Interested Underwriters c/o United Insurance Brokers Ltd 69 Mansell Street, London, E1 8AN:

Dear Sirs • POLICY NUMBER: • M/T VESSEL: • B/L DATE: • DESCRIPTION OF LOSS: • AMOUNT CLAIMED:

In consideration of the Underwriters’ settling with us a claim in the sum of ______resultant upon the loss sustained by the above shipment, in the absence of the original Bill of Lading, we hereby undertake to indemnify Underwriters against all consequences which may arise from payment of the above claim without its production. We further undertake to continue our efforts to obtain this documentation.

Yours faithfully

Signed

Company name

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Sample Payment Authority wording

On company headed notepaper

Date: Interested Underwriters c/o United Insurance Brokers Ltd 69 Mansell Street, London, E1 8AN:

Dear Sirs • POLICY NUMBER: • M/T VESSEL: • B/L DATE: • DESCRIPTION OF LOSS: • AMOUNT CLAIMED:

We hereby authorise you to pay your respective proportions of all claims arising out of the above captioned incident to United Insurance Brokers Ltd, and we agree that such payment, whether on account or otherwise shall be a complete discharge to Underwriters concerned.

Yours faithfully

Signed

Company name

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United Insurance Brokers Ltd Marine Cargo

Subrogation

One advantage of insurance is that it relieves you of the time and expense involved in pursuing recovery from the party responsible for loss. Once a valid claim is agreed, underwriters will ask you to sign a subrogation form (an example is below). This will enable underwriters to pursue the claim against those parties that are responsible for the loss with the aim of seeking and obtaining a recovery of funds paid in whole or part.

Until that time, it is your duty to take all steps necessary to preserve these rights by:

■■ Inspecting cargo upon delivery

■■ Noting exceptions

■■ Filing notice with the carrier within prescribed time limits

(Guideline Time Frames are included on page 9)

Subrogation form

To the Underwriters of the Goods mentioned below.

Vessel Voyage

Broker: United Insurance Brokers Ltd No. & Date of Policy:

I/We acknowledge receipt of the sum of which I/we accept in full satisfaction of our claim in connection with the undermentioned goods (the Goods). I/We acknowledge that by virtue of such payment you are subrogated to all my/our rights and remedies in and in respect of the goods as provided by the law governing the Contract of Insurance and in the case of total loss you are entitled at your option to take over my/our interest in whatever may remain of the goods it being understood that my/our delivery to you of the documents of title relating to the goods shall not be construed as an exercise of such option. I/We also record that you have authority to use my/our name to the extent necessary effectively to exercise all or any of such rights and remedies; that I/we will furnish you with any assistance you my reasonably require of me/us when exercising such rights and remedies on the understanding that you will indemnify me/us against any liability of costs charges and expenses arising in connection with any proceedings which you may take in my/our name in the exercise of such rights and remedies.

Signed

Dated at: / /

Note: The above form is approved by Lloyd’s Underwriters’ Association and The Institute of London Underwriters for use inconnection with settlement of Marine claims.

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Dictionary of useful marine cargo insurance terms

We have prepared a list of abbreviations that are frequently used in our trade. This list is by no means definitive and should only be used as a guide – if at any time you come across any abbreviation or insurance term that you require assistance with please do not hesitate to contact UIB. ABI Association of British Insurers (Trade E&O Errors & Omissions association for the UK’s insurance industry) EEL Each and Every Loss AGG Aggregate EXW Ex Works ALOP Advance Loss of Profit FAC Facultative AOO Any One Occurrence FAC R/I Facultative Reinsurance AP Additional Premium FAS Free Alongside Ship ATZ Any Time Zone FCA Free Carrier B/L Bill of Lading FEU Forty (Foot) Equivalent Unit BBL Barrel FOB Free on Board BDI Both Days included FPA Free of Particular Average BST British Summer Time FCA Financial Conduct Authority C&F Cost & Freight (UK’s regulatory authority for the financial services industry) C&I Cost & Insurance GA General Average CFR Cost & Freight GIT Goods in Transit CIF Cost, Insurance & Freight GMT Greenwich Mean Time CIP Carriage and Insurance Paid to H/C Held Covered CIT Cash in Transit IBA Insurance Broking Account CL Clause ICC Institute Cargo Clauses CMR Convention on the Contract for the International Carriage of Goods by Road IPT Insurance Premium Tax (CMD 3455) ISM International Safety Management (code) CPA Claims Payable Abroad ISPS Code International Ship and Port Facility Security CPL Claims Payable London Code CPT Carriage Paid To IUA International Underwriting Association of London CSL Combined Single Limit L/C or LOC Letter of Credit CTL Constructive Total Loss LMBC London Market Insurance Brokers’ DAF Delivered At Frontier Committee DDP Delivered Duty Paid LST Local Standard Time DDU Delivered Duty Unpaid LSW London Special Wording DEQ Delivered Ex Quay (duty paid) M&DP Minimum & Deposit Premium DES Delivered Ex Ship MAT Marine, Aviation & Transport DIC Difference in Conditions MRC The current contract format in use within DOL Date of Loss the London Market. This standardised ‘slip’ format is one of the components of the DSU Delay in Start UP London Market reform process.

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NBI Non-Binding Indication (Insurance terms UIB United Insurance Brokers that are subject to change or withdrawal VAT Value Added Tax by the underwriter at anytime prior to commencement of cover. NBI will be VEF Vessel Experience Factor subject to full support of the following VRI Very Rough Indication market and underwriters’ satisfaction with the information required) WEF With effect from NCAD Notice of Cancellation at Anniversary Date WNKORL Warranted No Known or Reported Losses NKOR Not Known or Reported WP Without Prejudice NLOW Not Limited or Warranted WTD Warranted P&I Protection & Indemnity WTIES Warranties PA Particular Average WTY Warranty RP Return Premium XCS Xchanging Claims Service S&P Standard & Poor’s (rating agency) XIS Xchanging Insure Service SRCC Strikes, Riots and Civil Commotions SYN or SYND Syndicate T/L Total Loss TEU Twenty (Foot) / Equivalent Unit TLO Total Loss Only TPL Third Party Liability TRIA Terrorism Risk Insurance Act (A US law introduced on 26 November 2002)

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United Insurance Brokers Ltd Marine Cargo

UIB contacts

Claims contacts

Andrew Little T: +44 (0)20 7264 1617 M: +44 (0)7946 582385 E: [email protected]

Mark Joy T: +44 (0)20 7338 1604 E: [email protected]

Mark Marder T: +44 (0)20 7338 1816 E: [email protected]

David Rossi T: +44 (0)20 7264 1623 M: +44 (0)7500 446267 E: [email protected]

Marine Cargo claims guide | 2020 23 This proposal is intended merely to highlight issues and not to be comprehensive, nor to provide legal or other advice. United Insurance Brokers Limited (UIBL) accepts no responsibility for loss which may arise from relying on information contained in this presentation.

The contents of this proposal are protected by copyright under international conventions. You may read it and make copies for your own personal use. You may also give copies (in paper or electronic form) of reasonable extracts on an occasional basis free of charge to others for their personal use, on terms that (i) UIBL is acknowledged as the source, (ii) the text is not altered in any way, and (iii) the attention of recipients is drawn to this notice. Except with the prior written consent of UIBL all other use and copying of any of the contents of this presentation in any way are prohibited.

© United Insurance Brokers Limited 2020. All Rights reserved.

United Insurance Brokers Ltd 69 Mansell Street, London, E1 8AN T: +44 (0)20 7488 0551 | W: www.uib.co.uk United Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority, firm reference number 307812. The company is registered in England and Wales, registration number 2034497. Registered office: 69 Mansell Street, London, E1 8AN.