Pool reinsurance programme
The Group clubs arrange a market reinsurance contract to provide reinsurance for claims which exceed US $50million up to an amount of US $2.05 billion any one claim (US $1 bn for oil pollution claims). It is the largest single marine insurance contract. There are lower limits for claims against charterers. By bringing
together in this way the risks of the great majority of the world’s tonnage,
the Group is able to obtain the maximum
reinsurance capacity on the best terms available worldwide.
The Group Clubs also reinsure part of their risks through a captive insurance company, Hydra Insurance Co Ltd. Hydra is a segregated accounts company incorporated under the laws of Bermuda in which each Club is an Account Owner.
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