In its 2017 report on the P&I Clubs, broker Jardine Lloyd Thompson asked all of the clubs a list of questions. Here are the responses of Skuld, Standard Club and Steamship Underwriting Association to the final question, asking how the IG is currently most effective and relevant.
Q In your view in what area of its activities is the IG at its most effective and relevant?
Skuld said that, despite the International Group’s conservative image, the IG regularly innovated to protect shipowners’ interests. It said that the provision of MLC certification was the most recent example of clubs collectively finding effective solutions to new challenges. Also important was the IG’s role in ensuring that ships could trade freely without avoidable delays, in part due to almost universal acceptance of club LOIs and certificates. “In addition, clubs and the IG Secretariat maintain regular contact with flag-state and port-state authorities throughout the world to ensure ships are rarely delayed for regulatory reasons. This work largely goes unnoticed”, Skuld concluded.
Standard Club said that the IG’s principal role was to facilitate the most cost-effective means of providing broad reliable cover to members, which it does very well through the operation of the pool and the collective purchasing of the IG’s reinsurance programme. The Club said that this was a really important role, both for the club members and also for third party claimants and states, national and regional authorities. Standard noted that the Group also delivered a service liaising and lobbying with government bodies around the world and industry organizations to facilitate world trade.
Steamship said that the International Group did the following very well:
- Provided shipowners with high limits of cover at a reasonable price.
- Provided certificates and proof of insurance under international conventions, necessary for shipowners to trade.
- Provided guarantees post-incidents on which countries and parties can depend.
- Provided advice and service to shipowners on a full range of liability and shipowning matters.