The role of the Group

The reinsurance function

One of the main roles of the Group is co-ordinating the operation and regulation of
the clubs claim-sharing agreement (the Pooling Agreement). All qualifying claims in
ecess of !" million are shared bet#een clubs in accordance #ith the terms of the
Pooling Agreement by #hich the clubs reinsure each other for claims in ecess of !"
million. $uch of the Group%s #or& in'ol'es defining and refining the scope of co'er
for pool claims and the rules and guidelines under #hich claims are shared.
This claim-sharing agreement is underpinned by a 'ery etensi'e mar&et
reinsurance programme #hich the Group clubs arrange.
Group Clubs
There are thirteen separate and independent principal (lubs in the Group. (ertain
of the (lubs ha'e affiliated and reinsured subsidiary associations) #hich can be
'ie#ed belo#.
epand all * collapse all
American Steamship Owners Mutual Protection and Indemnity
Association, Inc
Assuranceforeningen Suld
Gard P!I "#ermuda$ %td&
The #ritannia Steam Ship Insurance Association %imited
The 'apan Ship Owners( Mutual Protection ! Indemnity Association
The %ondon Steam)Ship Owners( Mutual Insurance Association %imited
The *orth of +ngland Protecting ! Indemnity Association %imited
The Shipowners( Mutual Protection ! Indemnity Association
"%u,embourg$
The Standard Club %td
The Steamship Mutual -nderwriting Association "#ermuda$ %imited
S.eriges /ngfartygs Assurans 01rening 2 The Swedish Club
-nited 3ingdom Mutual Steam Ship Assurance Association "#ermuda$
%imited
The 4est of +ngland Ship Owners Mutual Insurance Association
"%u,embourg$
#IMCO *ew 'ason Clause
+n the e'ent of accident) danger) damage or disaster before or after the
commencement of the 'oyage) resulting from any cause #hatsoe'er) #hether due
to negligence or not) for #hich) or for the consequence of #hich) the (arrier is not
responsible) by statute) contract or other#ise) the goods) ,hippers) (onsignees or
o#ners of the goods shall contribute #ith the (arrier in general a'erage to the
payment of any sacrifices) losses or epenses of a general a'erage nature that may
be made or incurred and shall pay sal'age and special charges incurred in respect
of the goods.
+f a sal'ing ship is o#ned or operated by the (arrier) sal'age shall be paid for as
fully as if the said sal'ing ship or ships belonged to strangers. ,uch deposit as the
(arrier or his agents may deem sufficient to co'er the estimated contribution of the
goods and any sal'age and special charges thereon shall) if required) be made by
the goods) ,hippers) (onsignees or o#ners of the goods to the (arrier before
deli'ery.
#IMCO #oth)to)#lame Collision Clause
+f the -essel comes into collision #ith another ship as a result of the negligence of
the other ship and any act) neglect or default of the $aster) $ariner) Pilot or the
ser'ants of the (arrier in the na'igation or in the management of the -essel) the
o#ners of the cargo carried hereunder #ill indemnify the (arrier against all loss or
liability to the other or non- carrying ship or her O#ners in so far as such loss or
liability represents loss of) or damage to) or any claim #hatsoe'er of the o#ners of
said cargo) paid or payable by the other or non-carrying ship or her O#ners to the
o#ners of said cargo and set-off) recouped or reco'ered by the other or non-
carrying ship or her O#ners as part of their claim against the carrying -essel or
(arrier. The foregoing pro'isions shall also apply #here the O#ners) operators or
those in charge of any ship or ships or ob.ects other than) or in addition to) the
colliding ships or ob.ects are at fault in respect of a collision or contact.
The 5ague)6isby 7ules is a set of international rules for the
international carriage of goods by sea. The official title is /+nternational
(on'ention for the 0nification of (ertain 1ules of 2a# relating to 3ills of
2ading/ and #as drafted in 3russels in 4"56. After being amended by the
3russels Amendments (officially the /Protocol to Amend the +nternational
(on'ention for the 0nification of (ertain 1ules of 2a# 1elating to 3ills of
2ading/) in 4"78) the 1ules became &no#n as the 9ague--isby 1ules. A final
amendment #as made in the ,:1 Protocol in 4";".
The premise of the 9ague--isby 1ules (and of the earlier <nglish common
la#) is that a carrier has far greater bargaining po#er than the shipper= and
that to protect the interests of the shipper>cargo-o#ner) the la# should
impose minimum obligations upon the carrier