In this Insurance Institute of London (IIL) marine & energy lecture Mike Roderick will talk about the legal considerations behind the drafting of the JCC misappropriation wordings and John Minton will talk on the history and characteristics of misappropriation loss claims, how they arise and why they are often so large.

John will explain the importance of frequent monitoring of stocks so as to reduce the risk and extent of misappropriation losses and the incentive that the new clause provides to assured to do so.

By the end of this lecture members would have gained an insight into:

• The legal considerations that went into drafting the new wordings

Chair:
Nick Derrick, Standard Syndicate.