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.
Interestingly, it was created as a matter of national security as a solution to then WWI UK sanctions barring American operators from insuring with UK clubs. The Club insured the US merchant fleet through two world wars before internationalizing. Today it provides P&I cover for ship operators throughout the world.
The Club is a member of the International Group of P&I Clubs, a collective of twelve mutuals which together provide Protection and Indemnity insurance for some 90% of the world’s ocean-go- ing tonnage. Through this unique structure, the member clubs, while remaining individually competitive, share large casualty loss exposures, related extraordinary expertise, and serve as a platform supporting the industry voice of ship operators - a key stakeholder in the global chain of trade. Indeed, the Group - and through it, the American Club - serves to provide peace of mind to all stakeholders in the chain, from people, to communities, to ports, to other operators, countries, and authorities throughout the world, thereby enabling global trade.
The American Club’s principal activity is the providing Protection and Indemnity (P&I) insurance and Freight, Demurrage and Defense (FD&D) cover for risks on behalf of its Members, both owners and charterers. The Club provides insurance cover for liabilities including, but not limited to, damage to cargo, oil pollution, damage to and restoration of the ocean environment, wreck removal, and illness, injury and/or death to people on board such as passengers and seafarers. The Club also provides P&I and FD&D insurance to the operators of smaller vessels through its fixed premium facility, Eagle Ocean Marine (EOM). In addition, through its wholly owned subsidiary American Steamship Owners Marine Insurance Company (Europe) Ltd. (the American Club (Europe)) in Cyprus, the Club participates in the P&I and FD&D sector in Europe.
The American Club is subject to regulation by the New York State Financial Services Department, widely recognized to be the most demanding licensing authority in the United States. It requires detailed reporting, exceptional transparency, and robust security. In addition to providing quarterly statements to New York State regulators in accordance with their statutory demands, the Club also publishes an annual report in accordance with Generally Accepted Accounting Principles (GAAP) providing for easy comparison with other Group clubs.
In recent years, the Club has successfully built on its US heritage and expanded to all major shipping hubs around the world to become a truly international insurer with a global reach second-to- none in the industry. Day-to-day management is provided by Ship- owners Claims Bureau, Inc. (SCB) from its headquarters in New York. Extensive resources are provided by SCB’s satellite offices in London, Piraeus, Hong Kong, Shanghai, Limassol, and Houston. In addition to the resources of the Managers, the Association’s world- wide network of independent claims correspondents is available to Members around the clock.
The American Club appeals to prospective Members through its commitment to personalized service, a “can-do” attitude, and an enthusiasm to achieve the very best results for its Members both large and small. It has consistently maintained an ethos of being the solutions provider by extending maximum effort to understand the membership and to provide the highest level of support within the parameters of the Rules. The Club remains committed to ensuring this remains its highest priority.
The Club represents a significant and important voice in the industry and in the International Group, serving small to medium size operators, many with traditional family heritage. The American Club prides itself on its personal relationships with its Members and sees itself as an extension of the operations of the Members; serving as partners from the liability perspective for this sector of the shipping industry. As a niche Club, it enjoys the privilege of maintaining a real connection to its individual Members around the world through its regional offices and remains committed to that partnership. It has and will continue to ensure the membership has a voice and that it is heard.