Standard Club

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P&I Class members can extend their cover for offshore risks and other activities that are excluded under the International Group Pooling Agreement.

Typical vessels requiring such extensions include;

  • Anchor-handling tug supply vessels
  • Platform supply vessels
  • Cable and pipe laying ships
  • Windfarm installation and maintenance vessels
  • Diving support supply vessels and barges
  • Dredgers
  • Geographical survey ships
  • Heavy lift ships
  • Offshore construction vessels
  • Power generation vessels
  • Floating Storage Regassification Units (FSRUs)

It is a flexible cover which can be tailored as required dependent on contract, scope of work and the individual projects being undertaken.

  • Specialist operations: P&I liabilities arising during the course of performing specialist operations, such as dredging, cable and pipe laying, construction, installation and maintenance, which arise from the specialist nature of these operations. Excludes liabilities for failure to perform, fitness for purpose, quality of the work or loss/damage to the contract work.
  • Underwater vehicles: P&I liabilities arising out of the operation of underwater vehicles, including remotely operated vehicles, submarines, mini-submarines, sea ploughs, scarabs and diving bells. Excludes loss or damage to these vehicles.
  • Divers: P&I liabilities arising out of the activities of professional or commercial divers where the member is responsible for such activities. Excludes contractual liability for death, illness or injury of the divers.
  • Property on board: P&I liabilities assumed under contract in respect of loss or damage to property (other than cargo, stores or fuel) on board the entered vessel or being used from the vessel.
  • Contractual liabilities: P&I liabilities assumed under contract that are more onerous than liabilities at law or are excluded under the terms of the International Group Pooling Agreement.

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What types of vessels require offshore extensions?

The types of vessels that require offshore extensions include but are not limited to the following:

  • Anchor-handling tug supply vessels
  • Platform supply vessels
  • Cable and pipe laying ships
  • Wind Farm installation and maintenance vessels
  • Diving support supply vessels and barges
  • Dredgers
  • Geographical survey ships
  • Heavy lift ships
  • Offshore construction vessels
  • Power generation vessels
  • Floating Storage Regasification Units (FSRUs)

How is coverage tailored to meet the specific needs of shipowners?

Coverage for offshore extensions can be tailored to suit the individual shipowner’s requirements. This is done by altering liability limits, policy terms and conditions, deductibles and retentions, and extra coverages. Tailoring the coverage to the individual allows P&I clubs to provide adequate insurance while lowering premiums and giving shipowners peace of mind.

Can shipowners choose which types of cover they need for their vessels?

Yes, shipowners can choose which types of cover they need for their vessels. This is important as the level of insurance will be based on their specific operations and risks. 

Contact our Offshore underwriting team.

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