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We provide protection and indemnity cover with other insurances for shipowners, charterers and offshore energy operators. We are S&P ‘A’ rated and one of the premier mutual P&I insurers by tonnage and membership.
Teams of marine and technical personnel provide advice and best practices that underpin our ability to manage risks, deliver value and sustain financial security
Through offices in major hubs and a network of correspondents we cover the globe, responding to incidents with immediate, practical advice and ongoing support to resolve matters as positively as possible.
Standard Club is a specialist marine and energy insurer known for its diverse membership, pioneering loss prevention expertise and attractive pricing.
On 19 January, the US Office of Foreign Asset Control (OFAC) announced that several entities and individuals have been added to the Specially Designated Nationals list (SDN), including the Venezuelan National Institute of Aquatic Spaces (INEA) which is the Venezuelan Maritime Authority.
This designation by OFAC is of great importance to the industry, particularly for vessels continuing to call to Venezuelan ports. This is because the Venezuelan Maritime Authority provides services such as pilotage and towage which are mandatory for entering Venezuelan ports.
Members whose vessels are bound for Venezuelan ports and are likely to be required to make payments to INEA should act with caution and seek independent advice from sanctions specialist lawyers or the club’s local correspondents. Members need to exercise due diligence to ensure that the trade or operation is not subject to sanctions and that they do not trade with individuals or entities that are named on the EU or US sanctions lists.
