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General Average Absorption Clause 2018

04 July 2017

The BIMCO Standard General Average Absorption Clause, for use in marine insurance policies, was updated in 2017 to give effect to the revised York-Antwerp Rules 2016. Further modifications have now been made to streamline the basis for determining insurers’ payments. Details are set out below together with advice on adapting the clause where the underlying marine insurance policy covers more than one vessel. The 2018 clause should be used in place of the 2017 provision. The original 2002 version of the Clause, based on the York-Antwerp Rules 1994, should no longer be used.

Agent membership

02 January 2024

Agent membership is open to companies operating as ship agents. Find out prices and more about joining BIMCO as an agent member

BIMCO mourns the loss of Captain Jitendra Misra

29 March 2022

It is with deep sorrow that we learned of the passing of Captain Jitendra Misra on 23 March. Tributes to the late shipping veteran have acknowledged his passion for our industry and hailed his warm and friendly persona.