commiss decis decemb relat proceed pursuant articl eec treati iv lloyd underwrit associ institut london underwrit english text authent eec commiss european commun regard treati establish european econom commun regard council regul februari regul implement articl treati amend act access spain portug articl thereof regard notif applic exempt neg clearanc june submit commiss lloyd underwrit associ institut london underwrit agreement joint hull understand jhu respect lead agreement rla regard commiss decis octob initi proceed case regard summari applic notif publish pursuant articl regul consult advisori committe restrict practic domin posit decid fact notif june institut london underwrit ilu lloyd underwrit associ lua formal notifi commiss neg clearanc exempt agreement refer joint hull understand jhu respect lead agreement rla formal notif preced inform notif submiss relat agreement letter date juli notifi agreement relat marin hull machineri insur associ undertak ilu associ insur underwrit offer marin aviat insur london found usual function trade associ includ administr support servic member approxim member british own compani half compris subsidiari branch compani develop world lloyd london incorpor societi privat underwrit provid intern market type insur premium incom approxim million year quarter busi unit kingdom polici subscrib privat individu liabil unlimit member group syndic specialist underwrit agent accept busi behalf syndic member join syndic lua found repres lloyd syndic handl marin busi approxim associ oper number joint committe purpos monitor topic interest field bring specialist field committe joint hull committe jhc refer jhc compris peopl drawn equal number lua ilu jhc raison être matter market interest develop administ notifi agreement jhu rla ilu lua repres vast major underwrit activ marin insur london account approxim unit kingdom total marin insur capac remaind provid compani associ market marin hull insur written usa franc norwai unit kingdom unit kingdom share intern hull busi signific part world total hull insur subject compulsori local requir parti estim approxim commun hull busi insur london higher proport vessel eec insur london parti london market reput marin insur busi mean risk led initi partial london foreign market london market judgment rate claim settlement extent london market influenc greater true market share total premium earn associ marin insur estim approxim million year million hull machineri insur shipown gener insur broker handl busi behalf ensur fleet term found market world applic competit hull busi market london market unit compet directli market risk switch market broker obtain term market competit london market initi underwrit market reli broker initi competit request marin insur character fact insur basi larg amount monei involv underwrit seek share exposur risk limit particip agre proport risk market london franc usual insur seek reinsur part risk risk cover partli market underwrit market reinsur london characterist market underwrit leader risk detail evalu risk assess condit premium remaind follow reli larg judgment leader decid particip reput leader import help broker obtain support market place risk mean slip order form detail risk cover propos typic place marin hull risk involv underwrit larg sum involv larg similarli claim made underwrit theoret decid practic leader make decis follow review briefli payment made central premium distinguish featur hull insur long tail long time elaps payment premium hand report payment claim claim made polici year damag occur fourth year major casualti report year renew insur account sole current year result year year period thought adequ give complet pattern loss claim give indic loss occur claim made applic main focu competit price claim settlement experi secur reput insur carrier carri consider weight characterist market high frequenc claim role owner crew variabl assess risk import addit factor owner hull insur vesseld insur ten time premium payabl ident own shipown good record agreement notifi joint hull understand jhu jhu contain claus claus limit freedom member ilu lua determin price renew claus issu statement object ceas appli lua ilu april claus claus refer graph annex jhu graph set recommend minimum premium increas loss ratio rate increas increas loss ratio worsen singl vessel credit balanc loss ratio premium paid exce loss increas balanc debit rate increas larger fleet rate vari band rate band lower appli singl vessel ratio debit balanc excess leader free charg increas thought term renew minima set graph strongli recommend leader consult quotat made result deliber report joint hull committe freedom depart graph introduc februari prior date underwrit free depart graph consent jhc obtain sanction exist underwrit chose depart graph unilater applic strong critic lead underwrit concern case chairman joint hull committe deputi speak privat underwrit underwrit regard fault graph exist longer serv underwrit rememb parti explain drawn parti explain reflect gener market experi made gener assess factor exchang fluctuat inflat shipbuild repair cost claus provid result call increas excess refer deduct increas percentag rise minimum increas claus stipul payment made cash immedi defer rebat prompt cash payment reduc claus notifi jhu provid hull quota share obligatori surplu reinsur contract restrict flag ownership manag fom busi countri concern specif agre underwrit meant specif agre reinsur busi restrict vessel countri registr ownership manag reinsur claus amend request commiss recommend reinsur inform nation vessel owner consid materi fact affect assess risk remain claus jhu provid guidelin uniform criteria technic detail polici renew essenti identifi prudent market practic provid method reduc confus true record insur scope hull machineri polici underwrit free ignor guidelin relat question methodolog classifi vessel inform shipown record present uniform manner facilit comparison prevent misrepresent treatment vessel differenti increas design pace inflat increas vessel propens partial loss valuat vessel partial total loss ensur valuat vessel partial total loss diverg unduli central administr refund period vessel port vessel port subject lower risk fulli oper recognit refund made assur amount refer period rebat freeli negoti time conclus insur contract claim refund made central offic run lua ilu staff expert knowledg port port condit world verifi vessel moor period claim claus refer refund complet period dai normal refer period underwrit group underwrit free give refund period dai forfeit prejudic insur legal question seaworthi admit claus mortgage obtain separ cover hull machineri polici indemnifi improp conduct owner definit risk cover hull machineri polici ii respect lead agreement rla agreement provid essenti leader underwrot hull busi allow continu leader polici renew underwrit potenti leader prohibit attempt lead renew meant underwrit depriv opportun bid compet renew busi shipown depriv choic possibl cheaper price competit compet leader afford pursuant claus rla member associ agre subscrib slip leader associ signatori signatori leader prior sign rla meant competit ilu lua prohibit principl rla adher member ilu lua member breach agreement associ ilu lua announc deem longer adher agreement effect announc underwrit follow lead occur occas parti claim underwrit concern lost busi result announc felt worthwhil sanction lua ilu request commiss abandon agreement april replac text rla risk renew quot compet group group underwrit leader compet group consult exist slip leader consult exist slip leader make record fleet statist exist slip compet slip discuss propos renew term underwrit suscrib exist slip give leader slip notic latest month prior renew date vessel intent leav exist slip join potenti compet slip notic provis appli compet slip cover observ parti commiss receiv observ interest parti public notic requir articl regul ii legal assess articl decis associ undertak ilu lua associ undertak mean articl jhu rla constitut decis associ undertak mean articl effect trade agreement relat marin insur involv transport natur liabl affect trade member state addit trade affect ilu lua member provid servic shipown broker establish member state unit kingdom market share member associ effect appreci restrict competit joint hull understand jhu jhu contain claus restrict competit contrari articl claus graph graph equival price fix agreement object prevent renew agre rate minima graph limit scope leader negoti rate renew graph februari member associ oblig respect rate graph sanction underwrit gener critic fellow underwrit absenc sanction price fix agreement mean articl agreement natur restrict competit explicitli prohibit articl effect concern applic determin number time graph breach state knowledg number renew year breach graph word vast major renew compli minima set graph breach regard except fact februari april parti free depart graph period infring articl recommend price increas fall prohibit articl fact continu oblig report deviat graph act dissuas factor tend enforc restrict natur graph claus claus limit freedom underwrit set level increas deduct excess restrict competit mean articl claus establish law agreement amount rebat grant caught prohibit price fix articl claus impli underli agreement rebat payment cash payment defer rebat requir reduc abovement claus delet ilu lua april remain claus jhu technic natur provis appreci prevent restrict distort competit common market ii respect lead agreement rla rla restrict competit london market effect ensur leader insur risk continu underwrit risk renew leader protect competit potenti compet leader wish offer term price agreement abandon ilu lua april replac agreement rla restrict competit ilu lua provid leader associ slip order broker free concentr attent associ chose produc cost save price rla permit compet group group underwrit challeng exist group slip oblig make record fleet statist facilit compet group task assess risk prohibit discuss renew term exist compet group underwrit reason conclud rla claus appreci restrict prevent distort competit common market adopt decis articl basi inform possess commiss ground action articl eec treati respect notifi agreement modifi joint hull understand respect lead agreement articl decis address associ undertak lloyd underwrit associ lloyd lime street uk london ec ha institut london underwrit leadenhal street uk london ec brussel decemb commiss leon brittan vice presid oj oj german fire insur case commiss decis eec oj case verband der sachversicher commiss ecr join case van landewijck commiss ecr join case sticht sigarettenindustri commiss ecr