The International Union of Marine Insurance (IUMI) has backed efforts to create a declaration of best practice for marine and energy operations in the Arctic.
The declaration has been drawn up by a group of marine and energy experts in the Arctic region to create a voluntary set of standards. It will not be a binding legal document, save for those circumstances where it may be incorporated into private contractual relations between parties.
The objective is to promote good examples in Arctic operations, and to prevent the risk of emergencies from ad-hoc operations set up without careful planning which use potential loop-holes in the existing regulatory process.
The declaration is a proactive response to concerns that there is as yet no consensus amongst nations which have territory within the region on a single legislative standard for those operating in the Arctic.
The hope is that the declaration will be signed by all involved parties like oil companies as well as the operators of ships, drilling rigs, and other marine infrastructure to raise standards and promote best practice.
The draft declaration has been published and sent out for consultation to interested parties. IUMI Secretary General Lars Lange has replied on behalf of the organisation to give its support for the initiative.
“IUMI fully endorses the idea behind the declaration, with the objective to promote best practice on a reasonable basis and prevent the risk of emergencies,” he said. “While not a natural signatory to the declaration, IUMI supports in principle the concept of this voluntary, non-binding document.”
He added: “IUMI fully support a mandatory Polar Code through the IMO; meanwhile we welcome this voluntary initiative for the industry to take a proactive approach when operating in the Arctic.”
IUMI has also expressed its willingness to participate in future Arctic Council deliberations as the representative organisation for marine re/insurers should the opportunity arise.
Image Credits: pacificenvironment