Stone Buildings QC wins key arbitration role for insurance industry

Stone Buildings' John Reeder QC is setting out to promote the use of the Lloyd's Open Form Salvage Agreement following his new appointment as appeal arbitrator for the insurance market.

Reeder took up the part-time role at the start of October, replacing Quadrant Chambers' Nigel Teare QC, who has been appointed as a High Court judge.

"Part of my function is to talk to groups of underwriters, to shipowners, to cargo interests about the Lloyd's form and the advantages of its arbitration system, to win more confidence in the system," Reeder said.

"I'm also anxious to try to overcome that lack of knowledge."

The Lloyd's form governs agreements between salvage companies and shipowners or cargo owners over the award paid to a salvor after a ship needs assistance. Any disagreements between parties are referred to a three-strong panel of arbitrators.

Quadrant Chambers' Simon Kverndal QC has been newly appointed to the panel, joining fellow Quadrant tenants Belinda Bucknall QC and Michael Howard QC.

As appeal arbitrator, Reeder will hear any appeal from the panel's decision.

The appointment as appeal arbitrator will not impact on Reeder's marine and commercial practice.