Ocean premiums rocket as insurers back away from Red Sea risk
In addition to soaring ocean rates and shipment delays from the Red Sea crisis, exporters ...
By Mike Wackett
The International Group of Protection and Indemnity Clubs is to open its P&I qualification programme to all the vast global network of listed ‘club correspondents’.
Described on day one of the 2017 Correspondents Conference in London yesterday as the “eyes and ears” of P&I, the correspondents act as independent advisors to the 13 group members, providing “direct and immediate assistance” in the event of a casualty or event involving a vessel insured by a club member.
A number of correspondents yesterday said that it was a welcome move in the P&I clubs’ quest to continually improve standards, and a high take-up is expected.
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