North P&I Club has announced its new Owners’ Fixed Premium P&I product, designed for operators of vessels up to 10,000 gross tonnes.
Under the Sunderland Marine trading name, the fixed premium product has been developed for shipowners and operators who want both insurance and cost certainty.
North and Sunderland Marine chief under writing officer, Thya Kathiravel, said diversification was a significant feature of North’s overall strategic direction.
“We have now developed a high quality fixed premium P&I product and service proposition and are confident that our increasing profile in this sector will deliver meaningful financial benefits for our mutual membership,” Thya Kathiravel said.
The new product is to be managed from North’s London office, by a recently-appointed team which consists of:
- Brian Davies, director (London)
- Gustavo Gomez, business claims manager
- Sebastian Tjornelund, Business Development Manager
Brian Davies said they were ready for growth.
“Coupled with the strength of service offered by North Group, Sunderland Marine is already well known for its superior proposition and statement of quality within the fishing and aquaculture sectors, where we are the acknowledged market leader,” he said.
North P&I chief executive Paul Jennings said they had recognised over time that club cover was unsuitable for all operators, especially those of smaller tonnage.
“Our new fixed premium product meets an evident market need while not diminishing the virtues and benefits of the IG system that we support,” he said.