• Sun. Jul 21st, 2024

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North P&I Club Wins Prestigious Maritime Insurance Award

Newcastle-based North P&I Club has been recognised for its market-leading insurance provision with one of the maritime industry’s leading honours.

North P&I Club has been awarded The Insurance Day Maritime Insurance Award at the Lloyd’s List Global Awards at the National Maritime Museum in London, England. In making the award, the judges commended North’s market-leading work in loss prevention and risk management services for the shipowner members they insure, as well as its financial strength.

Based on the quayside, in Newcastle, with regional offices in Greece, China (Hong Kong and Shanghai), Japan and Singapore, North’s loss prevention and risk management work includes a comprehensive range of practical claims and loss prevention guides, briefings and other publications produced specifically for the shipowner members, together with topical information, training and other tools to enable its members to maximise their crews’ effectiveness and vessels’ uptime.

Paul Jennings and Alan Wilson, Joint Managing Directors at North commented: “Winning the 2017 Insurance Day Maritime Insurance Award is a fantastic achievement and a real demonstration of the strength and specialist expertise of North. Special recognition should go to our in-house Loss Prevention team for its innovative work on the industry-leading Right Crew and Cyber Security initiatives.”

Recipients are chosen from entries from around the world and adjudicated by a distinguished judging panel which this year included:  Robert Ashdown, Secretary-General, International Association of Classification Societies; Andrew Bardot, Executive Officer, International Group of P&I Clubs; James Cooper, Chief Executive, Associated British Ports Holdings; Angus Frew, CEO, Bimco; Guy Platten, CEO, UK Chamber of Shipping; and Katharina Stanzel, Managing Director, Intertanko.

The judging panel commented: “It’s been a particularly good year for Newcastle-based North P&I. It began with Standard & Poor’s raising its assessment of the group’s capital adequacy to AAA. It got better. Overall tonnage grew by 7% with a 99% retention rate, North P&I Club was a first mover to reassure members of its ability to fully function irrespective of Brexit outcomes on free movement of financial service and judges also noted that, during the past year, North has led the P&I market on loss prevention and risk management issues surrounding cyber resilience and crew competence.”

By Emily