Tanker Voyage Declarations
Tanker voyage declarations will no longer be required commencing with the second quarter from May 21 to August 20, 2017, as we will monitor all tanker voyage activity and issue invoices according to voyage activity on a quarterly basis.
Vessels on Deposit
From now on we will monitor all vessels entered on a deposit basis and issue invoices for vessels that have entered US waters as per the agreed fleet terms for those vessels.
COFR Processing Fees
We will immediately dispense with COFR processing fees and include this service at no additional charge where we have been designated as Agent for Service of Process. We will continue to issue the draft COFR renewal notices to ensure there are no corrections to be made prior to submission to the USCG for processing.
Policyholder dividend credit for terminated entries
Dividend credits will now be tracked at fleet level and as long as a fleet consists of three or more vessels it will be entitled, in accordance with MISL’s Dividend Policy, to a full dividend credit on the premium paid for terminated entries during the policy year of termination.
Not only do we continue to stand behind the Shoreline promise to never be knowingly undersold, we reiterate our commitment to always listen and react immediately to the ever-changing needs of our Members’ so that we continue to deliver the most robust and user friendly COFR product available.