CimbriaCleveland Cascades LtdThe Wolfson Centre for Bulk Solids Handling Technology Coaltrans Asia 2021Van AalstPort of Stockton
  • TOC Events
  • Port of South Louisiana
  • Van Aalst
  • TBA Group
  • Port of Stockton
  • Bühler GmbH

Britannia and Korea P&I collaboration

(Posted on 16/12/19)

The Britannia Steam Ship Insurance Association Limited (Britannia P&I) and The Korea Shipowners’ Mutual Protection and Indemnity Association (KP&I) have established a new collaboration agreement, Korea-Britannia P&I Collaboration ‘KBC’.

This new facility, which is exclusively available to Korean shipowners and operators, will provide cover on a mutual basis excess of a primary USD500,000 layer insured by KP&I.

Britannia P&I, trusted since 1855, has 114m gt of mutual tonnage from over 240 members across 30 countries. In August 2019, S&P re-confirmed Britannia P&I’s A (Stable) rating with financial strength above the AAA level and ‘exceptional’ liquidity.

KP&I is a P&I Club established subject to Korea’s Shipowners Mutual Protection and Indemnity Insurance Act 2000. Rated A- (Excellent) by A.M Best, KP&I has a membership of 22.6m gt and 253 members.

Shipowners with vessels entered in KBC will become members of both Britannia P&I and KP&I. KP&I will market the facility and handle claims within their primary USD500,000 layer while Britannia P&I will assume responsibility for handling any larger or complex claims with a potential to exceed the primary layer. Britannia P&I will also issue all compulsory certificates thereby guaranteeing compliance international maritime conventions.

Commenting on the new facility, ANDREW CUTLER, Britannia P&I’s CEO said: “Britannia P&I has a proud tradition of working closely with Korean shipowners, many of whom are among the Club’s longest serving Members. KBC brings together Britannia P&I’s and KP&I’s shared values of excellence in service and reflects our common desire to support the Korean shipping market”.

While BAY MOON, COO of KP&I said: “This new collaboration agreement with Britannia P&I is an important milestone in the development of the Korea P&I Club and is significant before the 20th Anniversary of our founding in 2000. KBC will combine KP&I’s reputation for friendly and efficient service with Britannia P&I’s widely recognised financial strength to meet the ongoing demands of a vibrant and dynamic Korean shipping industry”.

Latest News

Potential officer shortage looms

(Posted on 29/07/21)

Launched this week, the new Seafarer Workforce Report from BIMCO and the International Chamber of Shipping... Read more


DNV backs crew change programme in SE Asia

(Posted on 29/07/21)

DNV, the world’s leading classification society and risk management expert, is embarking on an... Read more


IMI and Columbia sign cooperation agreement

(Posted on 29/07/21)

International Maritime Industries (IMI), the largest maritime yard in the Middle East and North Africa... Read more


Ocean Technologies helps seafarers minimise distractions

(Posted on 26/07/21)

Distractions are recognised as one of the biggest causes of human error resulting in incidents, accidents... Read more


The BMA recognises first mental health training course

(Posted on 26/07/21)

The Bahamas Maritime Authority (BMA) has announced that it has recognised the Seafarer Mental Health... Read more


ClassNK grants innovation endorsement Tsuneishi

(Posted on 20/07/21)

Leading Classification Society ClassNK granted its first Innovation Endorsement “Provider Certification... Read more


Jamaica’s successful women can serve as an example

(Posted on 20/07/21)

World shipping can learn a lot from Jamaica when it comes to equality in the maritime workplace because... Read more


DNV verifies Survitec’s new firefighting foam tests

(Posted on 15/07/21)

Classification society DNV has issued a verification statement allowing global survival technology specialist... Read more


METIS contributes digital expertise to EU sustainability project

(Posted on 15/07/21)

METIS Cyberspace Technology is contributing to an EU-backed project that will test clean energy solutions... Read more


Wärtsilä launches major carbon-free solutions test programme

(Posted on 15/07/21)

The technology group Wärtsilä continues to lead the ongoing transformation of the energy and... Read more


TOC EventsBühler GmbHTMS Awards 2021Port of South LouisianaViganTBA Group
  • Coaltrans Asia 2021
  • TMS Awards 2021
  • Telestack
  • Cleveland Cascades Ltd

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping