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Web Alert: Collectively stronger
News & Insights 22 January 2019
The Standard Club is proud to be one of the thirteen P&I clubs which comprise the International Group, which between them provide P&I cover for approximately 90% of the world's ocean-going tonnage.
The Standard Club is proud to be a part of the International Group and the benefits it brings to its shipowner members.
The Group has three core functions:
- the operation of the claims sharing (pooling) arrangements and the collective reinsurance of these arrangements. This collective strength allows each club to provide the insurance cover needed by shipowners to enable their ships to trade, and to meet the compulsory insurance and financial security requirements governing maritime transportation around the globe
- operating as a forum for collecting and exchanging views between the clubs and their shipowner members on matters relating to shipowners’ liabilities, and insurance of such liabilities
- a collective industry voice for the purposes of engaging with external stakeholders, including intergovernmental maritime organisations, national governments, marine authorities around the world and the shipping and marine insurance/reinsurance industries.
Thirteen P&I clubs comprise the International Group; between them they provide P&I cover for approximately 90% of the world's ocean-going tonnage.
For more information about the International Group of P&I Clubs, watch this short video: