Salvors and insurers mull proposed new LOF contract
A proposal to introduce a new version of Lloyd's Open Form, being widely branded as 'LOF Light', is about to be debated by all the main players with skin in the salvage game. The recently drafted alternate version is intended to address the grievances of insurers who have grown averse to LOF in recent years and ultimately to save the world's most important salvage contract from oblivion as usage dries up
Can ‘LOF Light’ save the world’s most important salvage contract after years of declining usage?
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