Reassessing the Institute Time Clauses Hulls (1983)

Chris Kilbee, of MCO Average Adjusters and of the Association of Average Adjusters, argues there is a case for contemporary reform

As an average adjuster with 50 years' experience working in Asia, I find that around 80 per cent of my current workload is now accounted for by hull policy claims. While the Nordic Plan has gathered considerable inertia in the last 25 years and the Japanese, American and Dutch clauses are still highly prevalent, the London 1983 Institute Time Clauses Hulls (ITC Hulls) have remained the backbone of most policies in Asia. While these continue to be relevant and workable, there is an argument for some revision to reflect a modern-day context.