Loss of Hire Insurance has maintained its relative importance to the Club’s insurance portfolio despite our diversification strategy, and we are considered as one of the global Leaders within this area.
Haakon Stang Lund is still to be seen as the "father" of the Handbook, and maybe even more so, the Nordic Plan. He has actively participated in the work of the revision committee drawing up the amendments, including Chapter 18 of the Plan.
We are most grateful to him that he was willing to take up the task of up-dating this book, which proved more time consuming than originally anticipated, so some long hours have been spent not only on weekdays, but also on weekends and during the Easter holidays.
Haakon retired this year, and we wish him all the best in taking on new tasks and challenges. However, he has left his legacy for the future, both in the Club and in his work with the Nordic Plan and this book.
Norwegian Hull Club
Hans Christian Seim
Chief Executive Officer
Since the second edition of the Handbook on Loss of Hire Insurance was published in 2008, three new versions of the Plan have been published. The second edition was based on the 2007 version of the Plan. In 2010 a new and the last version of the Norwegian Marine Insurance Plan was published. Then, a discussion commenced within the Nordic Maritime Community to issue a Nordic Marine Insurance Plan. This Nordic Plan materialized in 2013 after agreement was reached between CEFOR - the Nordic Association of Marine Insurers and the four Shipowners’ Associations of Finland, Denmark, Norway and Sweden. The need for a third edition of the Handbook is, therefore, long overdue.
Norwegian Hull Club, publisher of the two first editions of the book, also asked me to be the author of this third edition. It was again with some reluctance, but also joy, that I answered their call. The reluctance was this time due to the fact that I was approaching retirement, and I feared that I might not have the strength required to complete the task. Even though the challenges due to health reasons proved to be greater than anticipated, I am now very pleased that I was able to complete the task although a little behind the original planned schedule. As of 31.12.2015 I retired from my position as Legal Counsel of Norwegian Hull Club. The original schedule was to finalise the book before retirement, but when this was not possible, we agreed that I should continue after the turn of the year to complete the book.
The third edition is, of course, up-dated with the amendments to the Plan since the 2007 version, including the latest and current 2016 version of the Nordic Plan. Parts of the book have been rewritten, not only due to amendments of the Plan, but also to expand and clarify topics discussed. The third edition contains two new chapters. Chapter 17 on loss of hire insurance for fishing vessels and Chapter 18 on Mobile Offshore Units, as some special rules on loss of hire insurance have been included in these two.
This time, all chapters were distributed for comments to an internal reference group as I completed my drafts.
This group consisted of:
Per Åge Nygård, Roar Sanden and Brian Roberts of the Legal department;
Olav Hausvik of the underwriting department;
Jostein Egeland, Olav Tufta, Truls Langeland and Joannis Bloch Danielsen of the claims department.
I will express my sincere thanks in particular to Roar Sanden and Brian Roberts for very valuable comments and suggestions for improvements. Also Truls Langeland and Joannis Bloch Danielsen have contributed with practical examples and other valuable inputs.
I will also express my thanks and gratefulness to Håkon Roer-Eide, who has been kind enough to go through the whole manuscript and formatted it. He also drew up the Index, List of abbreviations etc. and has given me other valuable input.
My thoughts and grateful thanks also go to my beloved, patient and understanding wife, Lill Selmer Stang Lund, who has seen me disappearing into the "author’s den" and remain there for long hours in the evenings, over week-ends and during holidays.
Also for the third edition, it is to the highest degree important to emphasize that I alone am accountable for the content and solutions advocated for where the available sources of law are not giving any definite answer. I do not hold any authority to bind Norwegian Hull Club to any specific solutions on doubtful issues, and any possible mistakes by me must not be deemed to be admissions made by the Association.
CEFOR, holder of the copyright of the Plan, has graciously allowed me to reproduce Chapter 16.
Finally, it only remains for me to thank Norwegian Hull Club for having entrusted me with writing this third edition.
Haakon Stang Lund