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.

P&I Circular No 2691/2023

Enclosures to P&I Circular No 2691/2023 – Part 2

• Notice of Cancellation, Automatic Termination of Cover and War and Nuclear Exclusion Clause – Hulls, etc.
• Bio-Chem Clause

Please contact Tord Nilsson, Director of Underwriting, Reinsurance & Risk Control, if you have any questions.