Seminars & Events
The UK Club regularly organises both technical presentations its membership such as the Athens forum on Life at Sea. The Club is able to call upon the world’s most expert and influential speakers to address our Members on topical and relevant issues.
Sometimes these presentations and events address the needs of specialist groups within the membership. In the United States an annual Bodily Injury Team Seminar is held by Thomas Miller Americas Inc. bringing personal injury claims specialists together from the Club’s American Members, and those from further afield. Such events take place in all the regions where the Club is represented.
One of the most important activities of the Club is advancing the interests of its Members as an industry. Its recognised expertise in legal liability and technical risk management issues leads to frequent participation in governmental and industry meetings and debates. UK Club executives regularly take part in the activities of forums such as the IMO, Intertanko, EU, the International Group of P&I clubs and
UK Club executives are frequently in demand as speakers for industry conferences on a wide range of issues. UK Club speakers have presented papers on piracy, overweight containers, handling and preparing dangerous cargoes, pollution and stowaways, as well as giving general presentations on P&I as an insurance class.
Social events are regularly hosted by the Club across all its regions ensuring communication and understanding between staff, Members and other industry partners such as insurance brokers, lawyers, government and local agencies.
Club participation in all these various events and seminars is regularly published in the About the Club section of this website under Club News.
UK Club upgraded by S&P to A (Stable)
- Date: 14/07/2014
UK_Club_FAR_2014.pdf (332 kB)
In May 2014 the UK Club was pleased to announce that Standard and Poor (“S&P”) had decided to restore the Club’s full A (stable) rating. S&P’s full report, explaining the reasoning behind this upgrade, was released on 10 July 2014.
The report explains that, in assessing the Club’s business and financial risk profiles across a set of criteria, S&P have determined an anchor rating of “A”. This is based upon the “extremely strong capital adequacy” and “improved operating performance” of the Club. This anchor rating translates, without adjustment, to an overall financial strength rating of A (stable).
The restored rating is recognition of the financial progress made by the Club both in strengthening its capital and also in operating consistently at technical breakeven over a period. The report also notes that the “club has strong relationships with its members” and anticipates that the “club will retain a leading position among the IG clubs”
The report makes reference to one technical issue relating to “financial flexibility” which, while the Club’s position is described as “strong”, is still rated as “less than adequate”. S&P’s criteria assume that an entity’s financial flexibility is dependent upon making sufficient profits to cover annual interest payments on capital instruments (such as the Club’s Hybrid Capital) by at least 400%. As a mutual, this criterion is inappropriate for judging the financial flexibility of the UK Club. In line with other members of the International Group, the Club has the ability to raise further capital through the supplementary call mechanism. S&P are therefore able to report that the Club has an “underlying strong financial flexibility”.
The upgrade is most welcome and the report endorses the work done by the Club in recent years. However, it is not an end in itself and the Club continues to focus on providing exceptional service to its members as the leading ship-owner controlled provider of P&I insurance.
The UK Club keeps Members abreast of the updates to its website with a weekly email bulletin titled “Latest Updates”. This email is sent every Thursday evening to all Members, brokers and industry partners who are registered to use the Club’s online services within the Members’ Area. Simply click on the Members Area button at the top of this page to register.
Alternatively, an easy way to follow the UK Club website updates is through Twitter. The Club’s twitter address is @ukpandi . Twitter is a free service, simply register your own address at http://twitter.com/ and then search for ‘ukpandi’ and select “Follow”.