No. 5 - The Millennium Bug - September 1998
THE MILLENNIUM BUG
We refer to our circular of April 1998 which we ask Members to read again.
Through that circular and the Millennium Conferences which the International Group organised in June, the Clubs have tried to alert Members to the scale of the problem. Only Members themselves, however, can take action to deal with the problem in the context of their own activities and take appropriate steps according to published best practice, invoking independent expert advice when required.
Club Managers will therefore be recommending to their Boards that, with effect from 20 February 1999, Club Rules should be amended, where necessary, to make clear that:
- in relation to any claim arising directly or indirectly from millennium non-compliance, Members will be expected to demonstrate to the satisfaction of the Directors that they have taken such steps as an uninsured person acting reasonably in similar circumstances would have taken to avoid such a claim;
- the Directors will be empowered in their discretion to reject or reduce any claim when the Member has not so acted.
The West of England Ship Owners
Insurance Services Limited
R J B Searle