Iranian Fleet Regains P&I Insurance
A large portion of Iran’s shipping fleet has regained Protection & Indemnity (P&I) insurance from Steamship Mutual, reports Mehr News Agency.
Steamship Mutual, said in a statement that a considerable number of Iranian vessels have taken out insurance form the company.
"We are pleased to observe return of Iranian directors to the board of one of the largest and most diverse P&I Clubs in the world,” Jonathan Andrews, Director & Head of Eastern Underwriting in Steamship Mutual, said.
Steamship Mutual was the main and most favorable insurer of Iran’s shipping fleet, prior to imposition of sanctions against Iran in 2009.
Islamic Republic of Iran Shipping Lines (IRISL) has purchased insurance from Steamship Mutual for container ships and multi-purpose vessels though vessels active in the field of international trade will receive top priority.