Part 2 – Protection & Indemnity Insurance 2022/2023
The Swedish Club provides P&I cover for its members for each and every accident and/or occurrence up to approximately USD 6.8 billion. The high limit is needed to adequately protect members/shipowners financially and to make sure that they are covered for accidents that may occur under worst-case scenarios, when taking into account current international legislative schemes.
To be able to provide for these limits, the IG Clubs, where The Swedish Club is a member, reinsure each other as well as buy reinsurance together to ensure that insurance costs are kept to a minimum.
It is our aim to try to explain how we reinsure P&I liabilities on behalf of our members and the different costs involved, as well as showing how premiums are charged.
Part 2 – Protection & Indemnity Insurance 2022/2023
Enclosures to P&I Circular No 2674/2021 Part 2
- The Swedish Club Outbreak of War Clause (P&I)
- Notice of Cancellation, Automatic Termination of Cover and War and Nuclear Exclusion Clause – Hulls, etc.
- Bio-Chem Clause
Please contact Tord Nilsson, Director Underwriting, Reinsurance & Risk Control, if you have any questions.