Multimodal 2022ViganCimbriaSailors SocietyVan AalstTOC Events
  • Port of Stockton
  • Cleveland Cascades Ltd
  • TBA Group
  • TOC Events
  • Telestack
  • The Wolfson Centre for Bulk Solids Handling Technology

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

ClassNK releases PrimeShip-HULL 2022 for new structural rules

(Posted on 12/05/22)

Leading classification society ClassNK has released its design support system “PrimeShip-HULL... Read more


International segments drive solid Algoma performance

(Posted on 05/05/22)

Algoma Central Corporation has reported its results for the three months ended March 31, 2022. Revenues... Read more


Report highlights INTERCARGO members’ commitment to quality

(Posted on 05/05/22)

The International Association of Dry Cargo Shipowners (INTERCARGO) has launched the thirteenth edition... Read more


ClassNK issues AiP for ammonia-ready LNG-fuelled bulk carrier

(Posted on 27/04/22)

Leading Classification Society ClassNK has issued an Approval in Principle (AiP) for the design of an... Read more


Inmarsat combats rising maritime cybercrime with fleet secure UTM

(Posted on 27/04/22)

Inmarsat, the world leader in global, mobile satellite communications, has launched Fleet Secure Unified... Read more


Bulk shipping offering between UAE and Bangladesh

(Posted on 20/04/22)

AD Ports Group has announced that its feeder service, SAFEEN Feeders, has signed a long-term trade facilitation... Read more


CMS and MHSS to support seafarers impacted by Ukraine war

(Posted on 20/04/22)

Columbia Shipmanagement, together with its owning company and its clients, have raised an unprecedented... Read more


Blue Fin Shipping orders six combi freighters from Damen

(Posted on 14/04/22)

Impressed by the outstanding performance of the first two Combi Freighters 3850, German ship owner Blue... Read more


New ICS training resource to plug on board technology gap

(Posted on 14/04/22)

The International Chamber of Shipping (ICS) has launched a new resource designed to help ship operators... Read more


Swedish Club’s loss prevention solutions at the touch of a button

(Posted on 14/04/22)

The Swedish Club has just launched a brand new version of its hugely popular Swedish Club OnLine portal... Read more


TelestackBühler GmbHThe Wolfson Centre for Bulk Solids Handling Technology Port of South LouisianaTBA GroupCleveland Cascades Ltd
  • Sailors Society
  • Van Aalst

Subscribe to our newsletter

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