Charterers Seeking Insurance Protection News

Continuing Demand for Strike Club Covers Marine Supply Chains

The Strike Club, an insurer of shipowners and charterers seeking insurance protection against delays in the marine trades, is experiencing a stronger uptake of its covers, whether for mutual entries or for the fixed-premium covers for war risks, loss of earnings (LoE) and bespoke delay risks. LoE business is particularly strong, and the club now offers an increased limit of $4 million each incident (up from $3.375 million). The club, now in its 56th year of trading, has an S&P rating of BBB+ with stable outlook. This was reconfirmed by the rating agency after it announced new criteria for the rating of insurance companies, including 14 marine mutual insurers.