2017/18 has been a year of focused introspection within the Group, including a root and branch review of the ways in which the Group delivers benefits for shipowners through its claims pooling arrangements and through the sharing of the unparalleled underwriting, technical and legal knowledge and expertise which resides within the managements of the Group clubs.
02 October 2018
2017/18 has been a year of focused introspection within the Group, including a root and branch review of the ways in which the Group delivers benefits for shipowners through its claims pooling arrangements and through the sharing of the unparalleled....
12 October 2017
One of the key objectives and strengths of the mutual and Group system is the development and delivery of solutions for shipowners’ liability insurance needs. This objective was once again tested in 2016/17, and once again the Group clubs successfully stepped up to the plate to deliver a solution for shipowners.
13 July 2016
The shipowners’ liability cover provided by the Group Clubs, and through the Group’s claims pooling and reinsurance arrangements, is a key factor in enabling world seaborne trade, the protection of the marine environment and of the interests of both public and private victims of maritime accidents. Furthermore, the spread of risk across Club’s mutual tonnages, and the cost efficiency of the collective reinsurance purchases, delivers significant benefits to the shipowner members of the Group Clubs.
27 April 2015
The strength of the Group system lies not only in the unparalleled limits and range of cover which it is able to deliver for shipowners and for third parties, but also in the collective expertise in legal, insurance and technical matters that it brings together through its established subcommittees and working groups.
08 December 2014
Shipowners and operators need to be able to mitigate and manage the risks inherent in ship owning and operating. It is the job of the global insurance industry to ensure the availability of adequate and sustainable insurance cover. The International Group of Protection & Indemnity Clubs plays a key role in this, ensuring the availability for shipowners and operators of the highest limits, and broadest range, of marine liability insurance cover that can be provided.
08 December 2013
For shipowners, 2012 proved to be another very challenging year with very few vessel sectors unaffected by the continuing global recession in the shipping industry. The Clarksea Index reflected a continuing downward cycle, averaging just below US $10,000/day in the year to December 2012. This is down 20% from 2011 and, in many cases, earning levels are insufficient to cover vessels’ operating expenses. Meanwhile strong fleet growth continues, with Clarkson reporting an increase of over 5% in the first 10 months of 2012, and an estimate of 6% for the full year – making an aggregate growth of 41% for the world fleet since 2007.