Without disclosing any for the increasing the mutual delay insurer The Strike Club says it has had “a successful renewal and another year of continuing growth”.
Although not a P&I club, it is the first of the mutuals to report the trend set for the new policy year as its renewal date is February 1 and not the traditional February 20. The club now insures more than 660 vessels, representing insured values of approximately $25.5bn
“There have been additional entries from existing members, and we have seen very encouraging new business from shipowners and charterers,” said Bill Milligan, chief executive of Strike Club Management.
“Overall,” said Mr Milligan, “the strong renewal reflects our growing attraction as a one-stop shop to insure against delays in the marine transport chain. With a number of shipping trades now at a very critical point between making a profit or not, operators should act to protect their revenue flows if vessels are delayed by incidents leading to downtime.”
The club also reports “further significant take-up” of the fixed-premium war risks cover it offers on a worldwide basis.
Although not a P&I club, it is the first of the mutuals to report the trend set for the new policy year as its renewal date is February 1 and not the traditional February 20. The club now insures more than 660 vessels, representing insured values of approximately $25.5bn
“There have been additional entries from existing members, and we have seen very encouraging new business from shipowners and charterers,” said Bill Milligan, chief executive of Strike Club Management.
“Overall,” said Mr Milligan, “the strong renewal reflects our growing attraction as a one-stop shop to insure against delays in the marine transport chain. With a number of shipping trades now at a very critical point between making a profit or not, operators should act to protect their revenue flows if vessels are delayed by incidents leading to downtime.”
The club also reports “further significant take-up” of the fixed-premium war risks cover it offers on a worldwide basis.