The Standard Club has an extremely effective programme for additional P&I risks. Certain areas of P&I risk fall outside the ambit of the the International Group pooling and reinsurance programme, and the club has therefore developed its own reinsurance programme to allow it to cover those risks, which include:
- Through transport operation: For liabilities arising on land, such as personal injury and property damage, out of the carriage of cargo before or after the ocean transportation.
- Contractual P&I liabilities: For liabilities arising solely under contracts whose terms fall outside those envisaged under standard cover under the rules.
- Salvors’ cover: For professional salvors and providing cover for contractual and tortious liabilities arising out of salvage operations, with or without the involvement of an entered ship.
- Deviation risks: For cargo liabilities arising out of a range of events, including geographical and non-geographical deviations from the cargo carriage contract.
- Charterer’s damage to hull liability: To cover the charterer for his liability for damage to the chartered ship.
- Indemnities: To provide annual or one-off cover for liabilities arising under onerous, indemnities.
- Specialist operations: To restore cover for the exclusion of specialist operations, such as dredging, pipe-laying, cable-laying, construction, well-stimulation etc.
- Production operations: To restore cover for the exclusion of all liabilities while drilling or producing oil and gas.
- Passenger liabilities: To extend cover for liabilities arising outside the ship.
- Extended cargo cover: To provide additional cover for liabilities accepted beyond normal Hague Visby / Hamburg Rules terms.
- Consortium cover: To extend the member’s cover for liabilities arising on other ships operating in consortiums or other space-sharing agreements.
- GA absorbtion: To enable a member to avoid in some circumstances collecting GA contributions from cargo owners.
- Charterer’s bunkers: To cover the charterer for his bunkers and liabilities arising out of them.
Wordings of these additional covers are available and quotations can be provided with limits up to $1bn.