Miscellaneous Provisions

  1. Minimum insurance value

    If the number of insured entries, or the total sum insured, decreases below what is provided in § 1-3 of these articles, the Board of Directors shall immediately call, with no more than 14 days' notice, a General Meeting which shall make a decision in accordance with § 10-2 of the Norwegian Insurance Business Act.

  2. Arbitration

    Disputes between the Club and its members shall be resolved by arbitration under the rules of the arbitration procedure adopted by the Nordic Offshore and Maritime Arbitration Association (Nordic Arbitration) and in force at the time when such arbitration proceedings are commenced. Nordic Arbitration’s Best Practice Guidelines shall be taken into account.

    The place of arbitration shall be Bergen, Norway and Norwegian law shall be applied exclusively.