An introduction to the International Group of P&I Clubs
Gard is the largest member of the International Group of P&I Clubs. The International Group currently has 13 member clubs which collectively provide liability insurance for more than 90 per cent of the world’s ocean-going tonnage and more than 95 per cent of the world’s ocean going tankers.
The main functions of the International Group are:
- the management and development of the Pooling Agreement that regulates the sharing of large claims by the clubs;
- the purchase of excess of loss reinsurance for liabilities that exceed the Pool limit;
- the administration of the rules and procedures that are laid down in the International Group Agreement to regulate quotations for the movement of fleets between clubs; and
- the representation of shipowners in relation to legislation and policies that affect their liabilities to third parties and insurance.
You can learn more about the International Group from the International Group Annual Review 2016/2017, or watch the short introductory video below.