Our aim is to maintain a robust risk management system that allows us to identify, manage and mitigate all significant risks facing the Club.

The Club’s own reinsurance programme
As was noted in last year’s Review of the Year, the Club’s own reinsurance programme has become increasingly sophisticated over recent years and made a significant contribution to the Club’s overall results and its approach to risk management.In particular, significant recoveries are still expected to be made in respect of the 2012 and 2013 policy years from the Club’s Pool protection and large claim reinsurances.

The International Group Reinsurance Programme
The 2014 policy year proved to be yet another benign year for claims reported to the Pool and to the Group’s reinsurers. As at 20th February 2015, a total of 15 claims had been notified to the Pool with a total estimated exposure of around $180 million, and no claims had reached the general excess loss attachment point of $80 million. This represents a third consecutive year of very favourable loss experience on the International Group’s reinsurance programme. However, the COSTA CONCORDIA and RENA claims on the 2011 policy year deteriorated during 2014 and losses to the contract increased by a further $400 million.

Pool structure
For the 2015 policy year, no changes have been introduced into the lower and upper Pool layer structure. The individual Club retention remains at $9 million and the attachment point on the Group’s reinsurance has remained unchanged at $80 million.Hydra’s reinsurance of the Group Pool has also remained unchanged at $50 million excess of $30 million.

Helping our Members manage risk
Helping Members to manage their risks is at the heart of the Club’s business. We take it seriously and have developed the most extensive loss prevention programme in the P&I industry, reflected in a wealth of information in the UK Club website.

Alongside all the traditional LP products, the Club has a number that are unique.Crew illness claims are prevented by our Pre-Employment Medical Examinations,under a PEME scheme which was the first in the industry and remains unique in terms of the high standards required of its clinics. For other claims categories, the UK Club is alone in employing a team of in-house risk assessors, who are ex-Master Mariners, to provide practical but free advice to Masters and crews on areas of risk identified on board. Further developments to the programme in 2014 saw the launch of self-assessment modules, as a result of which Members can enjoy a unique insight into all the factors identified as causative of claims that are actually paid by the Club.Meanwhile, for the risk of maritime crime, the UK Club alone offers a unique in-house investigation service from former senior Metropolitan Police officers with a wealth of experience – Signum Services.

Structure of the International Group reinsurance programme for 2015
A number of factors, including increased market capacity, the continuing positive financial development of the Group’s captive Hydra and the use of further multi-year fixed placement enabled the Group to achieve favourable reinsurance renewal terms for 2015.As a result of this the reinsurance rates for tanker and dry cargo vessels reduced and there was no increase for passenger vessels.

Hydra increased its coinsurance share in the first layer of the Group programme to include an additional 30% share of the layer from $80 million to $120 million, and a 10% share of the layer from $80 million to $100 million, thereby increasing its overall participation on the layer from 30% to 32.8%.

In addition to the 5% 36-month private placement of $1 billion excess $100 million which incepted on the last renewal, a further 5% 36-month private placement of $1 billion excess of $100 million incepted on 20th February 2015.

This diagram illustrates the structure of the Group general excess programme for2015/2016:

International group excess loss reinsurance <br>

Emergency Contacts

If you need to call our offices out of hours and at weekends, click After Office hours for a up to date list of the names of the Duty Executives and their mobile phone numbers. 

Ship Finder

This Ship Finder is updated on a daily basis. Members who need to advise the Club of updates to their recorded ships' details should advise their usual underwriting contact.