INSURANCE

American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) was established in New York in 1917 and is the only mutual Protection and Indemnity club domiciled in the Americas.

Groke Technologies is calling on marine insurers, P&I Clubs and regulators to encourage the widespread adoption of ship situational awareness systems as way of mitigating the rising number of claims relating to collision and other accidents attributable to human error.

International Transport Intermediaries Club (ITIC) has highlighted the importance of robust vessel design reviews and related insurance coverage throughout the construction process following a recent dispute between a naval architect, a shipowner and a shipyard regarding a vessel’s operational performance post-delivery.

NorthStandard reports a rise in  premium income with positive market responses to its post-merger scale and global operating structure, as well as its continuing service excellence. 

New base in Seoul will allow global marine insurer to offer enhanced support and service in Korea as it continues growing across the region.

With little prospect that the uncertainties and inflationary pressures afflicting the global economy through 2022-23 will disappear, NorthStandard has signalled intentions to apply a precautionary 5% increase to its P&I and FD&D premiums for 2024-25.