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12-01-2019

Shipowners lead the market in defence cover

The Shipowners’ Club provides more vessels with FD&D cover than any other defence insurer. We refer to our FD&D cover as Legal Costs Cover (“LCC”) and in addition to the standard cover available in the Rules, we have developed a range of tailored legal defence policies for yachts, fishing boats and passenger vessels.

As well as advising our Members on traditional freight, defence and demurrage claims, we pride ourselves on being able to assist Members with a wide spectrum of legal issues worldwide. These include employment disputes, defamation cases, shipbuilding claims and efforts to obtain security for our Members with claims out of jurisdiction.

In 2010, the Club had less than 2,000 vessels that purchased LCC. But as we have rebranded our product, grown our specialist team and continued to deliver a top-level service, an increased number of Members are seeing the benefits of taking defence insurance with the Club. As testament to this, by the end of the 2018 policy year, we expect to have underwritten LCC on more than 6,000 vessels.

By taking LCC with the Shipowners’ Club, our Members get access to our specialist LCC team, consisting of 12 lawyers and two trainees in London, and six lawyers in our Singapore office. As well as English and Singapore qualified lawyers, we also have team members qualified in a host of other jurisdictions and who speak a wide range of languages. This specialist team publish regular articles that focus on recent claims and are always happy to assist our LCC Members with any queries they may have. When doing so, we can draw upon our internal skills and knowledge, our access to CTRL and our extensive network of correspondents and lawyers worldwide.

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