A MOVE towards radical changes in marine insurance practices have been signalled by a policy statement from the Organisation for Economic Co-operation and Development, (OECD), on ways of eliminating sub-standard shipping throughout the world.

The OECD, which represents the 30 leading western industrial countries, has set out a number of principles to be developed into precise recommendations which, among other things, are aimed at "reducing the unintended effects of insurance policies that allow unfettered coverage of sub-standard ...

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