What is Singapore War Risks Mutual (SWRM)?

  • A class within The Standard Club Asia Ltd (Standard Asia), with its own committee and a high degree of autonomy
  • Singapore’s first national mutual war risks insurer
  • Developed with support from the Singapore Shipping Association (SSA)
  • Designed to offer flexible cover, competitive rates and excellent service

Why was SWRM established?

  • A war risk insurer in the same time zone as insured
  • Give shipowners more control over their war risks insurance
  • Expand Singapore’s insurance offering
  • Increase Singapore’s insurance expertise
  • Build up an insurance fund in Singapore
  • Enhance Singapore’s maritime cluster 

What does SWRM offer shipowners?

  • More control over war risks insurance cover, price and service
  • More stable pricing of additional premium areas
  • A stake in the insurance fund built up by SWRM

Why enter your ships in the class?

  • Competitive premiums
  • A dedicated team based in Singapore to ensure real-time advice, service and claims handling
  • Premiums paid into a Singapore-based insurer and members benefit from the class’ success
  • Endorsed by SSA

What does it cover?

  • P&I war
  • Hull war
  • Detention and diversion expenses
  • Sue and labour
  • Discretionary insurance
  • Optional additional insurance such as loss of hire

All cover is underwritten on a mutual basis.

What wording will the cover be underwritten on?

  • The club’s tailored war risks wording will be used as standard - See SWRM Rules
  • In addition, all standard international forms can also be accommodated including Institute Time Clauses, Nordic, German, French and American
  • Additional conditions can be accommodated 
  • The class aims is to give shipowners flexible coverage at competitive rates

What are the limits available?

  • The class covers war risks up to the insured value of the ship 
  • Separate limits can be arranged for P&I

What is the security?

  • Security is provided by the S&P ‘A’ rated Standard Club and reinsured with S&P ‘A’ rated insurers

Partnership with Risk Intelligence

  • The class has partnered with Risk Intelligence to provide SWRM members with the most up-to-date and comprehensive maritime security information
  • This includes Risk Intelligence’s monthly intelligence report and online intelligence platform
  • Risk Intelligence is a global leader in maritime intelligence with expertise in all key regions

Who can buy the cover?

  • Members of SSA, irrespective of flag of ship
  • Owners of ships registered in Singapore
  • Can be bought via your usual broker
  • Can buy non-war P&I cover from another P&I club; no need to be a P&I Class member of the Standard Club

Do you have to enter your whole fleet?

  • There is no requirement to enter a whole fleet
  • An owner may choose to enter any number of ships into the class

How do I get the cover?

  • Enquiries should be directed to our dedicated Singapore War Risks Mutual underwriting team at the SWRM@standard-club.com or phone +65 6506 2800
  • Alternatively, please contact your usual club representative for more information

Key contacts

View all key contacts

Contact our Singapore War Risks Mutual Class underwriting team.

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