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THE AMERICAN CLUB’S LOSS PREVENTION INITIATIVE ‘GOOD CATCH’ GATHERS MOMENTUM

Robust culture supports seafarers’ situational awareness and personal responsibility in campaign to improve safety at sea for all

NEW YORK, NOVEMBER 2, 2021: The American Club has recently launched an important new loss prevention initiative entitled Good Catch. As it gains increasing momentum, five safety advisories having been issued in the two months since the campaign was launched, Good Catch is aimed directly at seafarers themselves.  It combines alerts and animations on safety-related issues in a focused format.  Good Catch is currently available for download in English and in both new and traditional Mandarin.

Good Catch recognizes that, although there may be differences in detail between individual safety management systems, they all have a common purpose in ensuring seafarers’ situational awareness and their personal responsibility for their own safety, that of their shipmates, the marine environment, and the many other interests involved in their service at sea. The initiative emphasizes the importance of a strong safety culture which identifies, assesses and reports unsafe conditions, unsafe acts and near misses using case study examples.

Elements of the campaign already released include: reduction of CO2 emissions; dangers of over reliance on ECDIS²; engine room egress in case of fire and questionable risk assessments of various situations.  A number more are planned over the coming months.

Dr. William Moore, Head of Global Loss Prevention, Shipowners Claims Bureau, Inc., the Club’s Managers, said:

“We have over the recent past issued animations on bunkering and the handling of steel and rice cargoes; a library of safety, environmental and cargo handling e-Learning modules; safety comics and posters, but the focus of Good Catch is on informing seafarers themselves. We look to help them to become more situationally aware of their surroundings as well as make them aware that they are most responsible for their own safety and the safety of those who work beside them, in conjunction with the company and safety management system procedures under which they operate.

“As Managers of the Club, we meet with the Club Board’s Safety and Environmental Protection Committee, comprised of Club Directors, every quarter to discuss loss prevention and survey related activities.  Earlier this year, the Committee requested the Managers to maintain an undiminished focus on seafarer and ship safety in parallel with initiatives to inhibit environmental exposure, given the Club’s especially valuable insights to both areas of concern to the safe and environmentally friendly operation of ships.”

Joe Hughes, Chairman & CEO of Shipowners Claims Bureau, Inc., the Club’s Managers, said:

“It was a combination of events that brought Good Catch to fruition, but the initiative was primarily a result of reaching out to our members for their feedback on the loss prevention products and services the Club provides. The response was very positive.  There was a clear message that the Club should promote safety related guidance directed at seafarers which was short, simple and focused.  I am very pleased that this important initiative has now been launched.”

New alerts and animations will be posted periodically at the Club’s website at:

¹https://www.american-club.com/page/good_catch

²Electronic Chart Display and Information System

The American Club

American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) was established in New York in 1917. It is the only mutual Protection and Indemnity Club domiciled in the entire Americas and its headquarters are in New York, USA.

The American Club has been successful in recent years in building on its US heritage to create a truly international insurer with a global reach second-to-none in the industry. Day to day management of the American Club is provided by Shipowners Claims Bureau, Inc. also headquartered in New York.

The Club is able to provide local service for its members across all time zones, communicating in eleven languages, and has subsidiary offices located in London, Piraeus, Hong Kong, Shanghai and Houston, plus a worldwide network of correspondents.

The Club is a member of the International Group of P&I Clubs, a collective of thirteen mutuals which together provide Protection and Indemnity insurance for some 90% of all world shipping.

The American Club also operates a fixed premium facility, Eagle Ocean Marine (EOM), aimed at the operators of smaller vessels in local and regional trades.  Since it commenced underwriting in 2011 with its coventurers at Lloyd’s, EOM has enjoyed considerable success in building a growing footprint in this specialist market and generating strong profitability for both the Club and its co-insuring partners.

American Hellenic Hull Insurance Company, Ltd. (AHHIC) is a wholly-owned, Solvency-II accredited hull and war risk subsidiary of the Club, based in Cyprus.  Since it began operating in mid-2016, AHHIC has enjoyed an increasing market presence throughout the world. For more information, please visit the Club’s website http://www.american-club.com/

The American Club’s Loss Prevention Initiative ‘Good Catch’ gathers momentum

Robust culture supports seafarers’ situational awareness and personal responsibility in campaign to improve safety at sea for all

NEW YORK, NOVEMBER 2, 2021: The American Club has recently launched an important new loss prevention initiative entitled Good Catch. As it gains increasing momentum, five safety advisories having been issued in the two months since the campaign was launched, Good Catch is aimed directly at seafarers themselves.  It combines alerts and animations on safety-related issues in a focused format.  Good Catch is currently available for download in English and in both new and traditional Mandarin.

Good Catch recognizes that, although there may be differences in detail between individual safety management systems, they all have a common purpose in ensuring seafarers’ situational awareness and their personal responsibility for their own safety, that of their shipmates, the marine environment, and the many other interests involved in their service at sea. The initiative emphasizes the importance of a strong safety culture which identifies, assesses and reports unsafe conditions, unsafe acts and near misses using case study examples.

Elements of the campaign already released include: reduction of CO2 emissions; dangers of over reliance on ECDIS²; engine room egress in case of fire and questionable risk assessments of various situations.  A number more are planned over the coming months.

Dr. William Moore, Head of Global Loss Prevention, Shipowners Claims Bureau, Inc., the Club’s Managers, said:

“We have over the recent past issued animations on bunkering and the handling of steel and rice cargoes; a library of safety, environmental and cargo handling e-Learning modules; safety comics and posters, but the focus of Good Catch is on informing seafarers themselves. We look to help them to become more situationally aware of their surroundings as well as make them aware that they are most responsible for their own safety and the safety of those who work beside them, in conjunction with the company and safety management system procedures under which they operate.

“As Managers of the Club, we meet with the Club Board’s Safety and Environmental Protection Committee, comprised of Club Directors, every quarter to discuss loss prevention and survey related activities.  Earlier this year, the Committee requested the Managers to maintain an undiminished focus on seafarer and ship safety in parallel with initiatives to inhibit environmental exposure, given the Club’s especially valuable insights to both areas of concern to the safe and environmentally friendly operation of ships.”

Joe Hughes, Chairman & CEO of Shipowners Claims Bureau, Inc., the Club’s Managers, said:

“It was a combination of events that brought Good Catch to fruition, but the initiative was primarily a result of reaching out to our members for their feedback on the loss prevention products and services the Club provides. The response was very positive.  There was a clear message that the Club should promote safety related guidance directed at seafarers which was short, simple and focused.  I am very pleased that this important initiative has now been launched.”

New alerts and animations will be posted periodically at the Club’s website at:

¹https://www.american-club.com/page/good_catch

²Electronic Chart Display and Information System

The American Club

American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) was established in New York in 1917. It is the only mutual Protection and Indemnity Club domiciled in the entire Americas and its headquarters are in New York, USA.

The American Club has been successful in recent years in building on its US heritage to create a truly international insurer with a global reach second-to-none in the industry. Day to day management of the American Club is provided by Shipowners Claims Bureau, Inc. also headquartered in New York.

The Club is able to provide local service for its members across all time zones, communicating in eleven languages, and has subsidiary offices located in London, Piraeus, Hong Kong, Shanghai and Houston, plus a worldwide network of correspondents.

The Club is a member of the International Group of P&I Clubs, a collective of thirteen mutuals which together provide Protection and Indemnity insurance for some 90% of all world shipping.

The American Club also operates a fixed premium facility, Eagle Ocean Marine (EOM), aimed at the operators of smaller vessels in local and regional trades.  Since it commenced underwriting in 2011 with its coventurers at Lloyd’s, EOM has enjoyed considerable success in building a growing footprint in this specialist market and generating strong profitability for both the Club and its co-insuring partners.

American Hellenic Hull Insurance Company, Ltd. (AHHIC) is a wholly-owned, Solvency-II accredited hull and war risk subsidiary of the Club, based in Cyprus.  Since it began operating in mid-2016, AHHIC has enjoyed an increasing market presence throughout the world.

For more information, please visit the Club’s website http://www.american-club.com/                                                                                                                                                                                                                      

EAGLE OCEAN MARINE CELEBRATES TEN YEARS OF SERVICE TO THE MARITIME COMMUNITY

FIRST DECADE OF OPERATIONS MARKED BY STEADY GROWTH AND SOLID PROFITABILITY

SUSTAINABLE APPROACH TO BUSINESS AUGURS WELL FOR CONTINUING SUCCESS

NEW YORK, JULY 14, 2021:  Eagle Ocean Marine (EOM), the American Club’s facility providing fixed premium protection and indemnity (P&I) and freight, demurrage and defense (FD&D) cover to the operators of smaller vessels in regional trades outside the US, recently celebrated ten years of service to the maritime community.

EOM began operating as an American Club underwriting facility on July 1, 2011.  It has just completed its first decade of operations on a high note, having enjoyed steady growth and solid profitability over recent years.  The commencement of EOM’s eleventh year has also been marked by the successful renewal of its reinsurance arrangements, supported by the continuing commitment of first-class security at Lloyd’s and elsewhere, a reflection of EOM’s excellent track record and the sustainability of its business model.

Over the forthcoming months, EOM’s gross premium income since inception is projected to surpass $100 million, with revenue over the last three years in particular having seen a compound annual growth rate of approximately 17%.  Total premium earned for the most recent year of account is expected to be about $17.6 million, compared with just over $15 million for the immediately preceding twelve months.

As EOM continues to gain traction throughout the world as a gold-standard insurer in a changing fixed premium P&I landscape, there are grounds for optimism that its market footprint will continue to expand.  Moreover, notwithstanding chronic rating softness in the marine liability insurance sector, EOM has had success in obtaining sustainable levels of pricing for the cover it provides, a token of the respect with which the quality of its service is viewed within the industry.

As to its underwriting results, EOM has continued to perform well over the recent past.  The facility’s historic combined ratio since inception remains at about 75%, with an even better result over the last three years.  Most importantly, EOM continues to contribute positively to the American Club’s mutual membership, whose overarching interests animate EOM’s prudent approach to risk selection and premium pricing.

The distribution of EOM’s insured tonnage by reference to domicile of management and vessel type is broadly based, and has remained relatively constant over recent years.  With 1,700 vessels with an average unit size of 1,700 gross tons, EOM’s business derives from the major centers of maritime enterprise across the globe, with a strong representation from the Asia-Pacific region.  As to vessel type, the dry cargo and small craft sectors make up the preponderance of tonnage at 50% and 33% respectively, with tankers (at 14%) accounting for most of the remainder.

Commenting on Eagle Ocean Marine’s first ten years, Joe Hughes, Chairman and CEO of Eagle Ocean Agencies, Inc., which manages the facility on behalf of the American Club, said:  “My colleagues and I take great pleasure in celebrating the first ten years of EOM service to the maritime community.  The steady growth of EOM’s market footprint and premium revenue, coupled with its continuingly profitable contribution to the American Club’s mutuality, are testament to its prudent approach to risk selection and premium pricing, as well as the respect of the market for the quality of its services.  In an uncertain landscape, EOM remains the gold standard for fixed premium P&I insurance.  We have every reason to view the commencement of EOM’s second decade of operations with great optimism for the sustainability of its business model.”

ENDS

NOTE:

Eagle Ocean Agencies, Inc., is a member of the New York-based Eagle Ocean Group of companies – North America’s leading provider of mutual management, underwriting, adjusting, claims handling, surveying and loss consultancy services to the international shipping and insurance communities.

American Club conducts Annual Meetings remotely for second year – Reports solid progress in 2020 with positive start to 2021

  • Club tonnage and premium increase by 5% during 2020, growth continues into 2021
  • Eagle Ocean Marine experiences record income and solid profitability
  • American Hellenic Hull sees further price and balance sheet strengthening
  • Club investments earn 5.4% in 2020 despite market volatility early in year
  • Retained losses improve in 2020, frequency of larger claims diminishes
  • Pool exposures at record level for 2020 as escalation of recent years persists
  • 2020 financials presented on new basis to recognize EBUB accounting efficiencies
  • Year-end 2020 Members’ Equity shows marginal reduction from 2019 figure
  • Combined ratio of 112% for 2020 within lower range of recent market results
  • Loss prevention initiatives expand significantly despite COVID-19 constraints
  • Club and Managers gain NAMEPA CSR/ESG sustainability accreditation
  • IT and other capabilities continue to secure unimpaired service to all stakeholders
  • Annual Meeting of the Directors re-elects Mr. George D. Gourdomichalis and Mr. Robert D. Bondurant as Chairman and Deputy Chairman of the Board respectively. Ms. Dorothea Ioannou re-elected as Secretary.
  • Mr. Lawrence Bowles re-appointed as General Counsel, but announces his intention to retire in 2022 after twenty years’ service. Mr. LeRoy Lambert appointed as Assistant General Counsel in anticipation of his succeeding Mr. Bowles at that time.

NEW YORK, JUNE 25, 2021: For the second time in its history, Members attending the American Club’s Annual Meeting in New York recently did so remotely, in a virtual format made necessary by the continuing exigencies of the COVID-19 pandemic. But they heard that the Club had made solid progress across all business lines over the previous twelve months, and that 2021 had started on a positive note.

2020 had been a uniquely difficult year. The disruption caused by the COVID-19 pandemic had brought unprecedented challenges to commerce. However, although the global economy and supply chains had struggled during the first half, greater stability had prevailed as the year unfolded. The American Club had grown by 5% in premium and tonnage during 2020, and this momentum had continued into 2021.

For Eagle Ocean Marine (EOM), the American Club’s fixed premium facility, 2020 was an excellent year. Its revenue and reach both increased substantially over the period. The 17% compound annual growth rate of premium recorded over the previous three years had been attended by sound underwriting results, producing an aggregate combined ratio since inception of under 80%.

American Hellenic Hull, the American Club’s Solvency II-accredited hull and war risks underwriting subsidiary domiciled in Cyprus, saw further price and balance sheet strengthening during 2020. Rising profitability was expected over the months ahead, as general market hardening, assisted by prudent risk selection and pricing, continued.

The American Club’s attritional claims exposures during 2020 had improved by comparison with the previous year. However, the elevated loss trends experienced by the International Group’s Pool over the recent past had continued in 2020. This was likely to emerge as the most expensive pooling year ever recorded.

As to the Club’s latest financial statements, it was noted that there had been a change in the earlier accounting treatment, and presentation, of premium earned but unbilled (EBUB). Previously, EBUB had been used solely as a means of recognizing the unique benefits of the February 2008 DJA settlement agreement, covering pre-1989 asbestos claims.

In the most recent financial statements, the use of EBUB had been expanded to account for (i) the explicit, pro-rata reinsurance by open policy years of those pre-1989 asbestos claims and (ii) deficits attributable to the development of the open policy years themselves. Both had been balanced by sums designated as EBUB. This properly recognized the ex post facto, adjustable nature of the premium entitlements of mutual, assessable insurers such as the Club, and both the treatment and presentation of EBUB had been approved by its independent auditors. The approach also removed certain inefficiencies in the Club’s statutory accounting with the New York regulator.

On the investment front, the 2020 financial year had seen a 5.4% return on the Club’s portfolio, a creditable outcome in light of market volatility over the period. This result contributed to a year-end GAAP surplus only $3.75 million less than that recorded on a restated basis for the previous year. However, the year-on-year reduction of surplus from 2019 to 2020 was approximately $6.8 million on a non-restated basis.

The Club’s combined ratio for 2020 was 112% (116% absent the accounting change), a figure which, although within the lower range of recent market results, nonetheless highlighted the need for greater sustainability in premium pricing for the future, a subject upon which several International Group clubs had also commented during the recent round of reporting.

Having adopted a 5% general increase for the 2021 renewal, the American Club had experienced revenue growth of about 7.5%, taking into account deductibles and other changes to insuring conditions. It was also encouraging to note that the risk profile of the renewing membership continued to be favorable, implying a positive claims outlook for the future. Growth had continued into the early part of 2021, with a 7% increase in tonnage entered for Class I (P&I) risks during the first three months of the new policy year.

As the pandemic set in during the opening months of 2020, the Club’s Managers had been able to respond during 2020 with agility to new operating circumstances, adapting traditional modes of operation to take account of remote working in a virtual environment. Indeed, overall, the impact of COVID-19 on the Club, EOM and American Hellenic Hull had been comparatively muted.

The Club’s commitment to loss prevention and sustainability in general gathered momentum in 2020 and had moved further forward into 2021. As to the latter, the Club and its Managers had recently gained the CSR/ESG sustainability accreditation of the North American Marine Environment Protection Association (NAMEPA) and, having conformed to the exacting standards this entailed, been awarded its Maritime Sustainability Passport accordingly.

At the Annual Meeting of the Directors, which took place immediately after that of the Members, Mr. George D. Gourdomichalis of Phoenix Shipping and Trading S.A. and Mr. Robert D. Bondurant of Martin Resource Mgmt. Corp. were re-elected as, respectively, Chairman and Deputy Chairman of the Board.

Ms. Dorothea Ioannou, Deputy Chief Operating Officer of the Managers, was re-elected Secretary. In addition, Mr. Lawrence J. Bowles was re-appointed as General Counsel to the Club. In accepting his re-appointment, Mr. Bowles indicated that he planned to retire at the 2022 Annual Meeting, having by then completed twenty years as the Club’s General Counsel.

In anticipation of this, the Board was pleased to note the engagement of Mr. LeRoy Lambert as Assistant General Counsel to the Club, with a view to his succeeding Mr. Bowles in 2022. A well-known figure in the maritime community, Mr. Lambert was for many years in private practice as a partner of leading commercial law firms in the United States before becoming President of, and later General Counsel to, the US representative office of the managers of another International Group club. He is also the current President of the US Society of Maritime Arbitrators.

Speaking in connection with the Annual Meeting, Mr. Gourdomichalis, the American Club’s Chairman, said: “2020 was a uniquely difficult year. The disruption caused by the COVID-19 pandemic brought unprecedented challenges both to global commerce in general and to the conduct of insurance business in particular. Nevertheless, progress was achieved in every sphere of the Club’s affairs, notwithstanding adverse operating conditions. The Club remains well placed to exploit the many opportunities it sees in its future. In doing so, it will rely – as it always has – on the enduring support of its Members to whom my fellow Directors and I extend our sincere thanks and appreciation.”

Joe Hughes, Chairman & CEO of Shipowners Claims Bureau, Inc., the American Club’s Managers, also commented: “2020 was a year many people would prefer to forget. The rapid onset of the COVID-19 pandemic created an especially difficult business environment for virtually everyone, everywhere. And nowhere was the impact of the pandemic felt more keenly than at sea. In looking back over 2020, a special thought must surely go to seafarers, upon whose work the livelihood of the entire maritime community depends.

“For their own part, both the American Club and Eagle Ocean Marine, responded in new and imaginative ways to secure unimpaired service to their respective constituencies. On the insurance front, retained claims stabilized, largely unaffected by the pandemic, but Pool exposures continued to rise. Premium pricing increased somewhat, and investment returns were solid. Eagle Ocean Marine maintained its robust contribution to the Club’s mutuality and American Hellenic Hull experienced further price and balance sheet strengthening.”

He continued: “However, as our friends in other clubs have themselves remarked, technical underwriting results among P&I providers remain under pressure, highlighting a need for more sustainable pricing for the future. Nevertheless, despite the stresses of the past twelve months, the American Club looks forward with its characteristic optimism to a future of continuing opportunity.”

The American Club

American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) was established in New York in 1917. It is the only mutual Protection and Indemnity Club domiciled in the entire Americas and its headquarters are in New York, USA.

The American Club has been successful in recent years in building on its US heritage to create a truly international insurer with a global reach second-to-none in the industry. Day to day management of the American Club is provided by Shipowners Claims Bureau, Inc. also headquartered in New York.

The Club is able to provide local service for its members across all time zones, communicating in eleven languages, and has subsidiary offices located in London, Piraeus, Hong Kong, Shanghai and Houston, plus a worldwide network of correspondents.

The Club is a member of the International Group of P&I Clubs, a collective of thirteen mutuals which together provide Protection and Indemnity insurance for some 90% of all world shipping

The American Club also operates a fixed premium facility, Eagle Ocean Marine (EOM), aimed at the operators of smaller vessels in local and regional trades. Since it commenced underwriting in 2011, EOM has enjoyed considerable success in building a growing footprint in this specialist market and generating strong profitability for the Club.

American Hellenic Hull Insurance Company, Ltd. (AHHIC) is a wholly-owned, Solvency-II accredited hull and war risk subsidiary of the Club, based in Cyprus. Since it began operating in mid-2016, AHHIC has enjoyed an increasing market presence coupled with growing premium volume and rising profitability.

For more information, please visit the Club’s website http://www.american-club.com/

American Club experiences a positive 2021 P&I Renewal both Mutual and Fixed Premium sectors see increases in Revenue

American Hellenic Hull strengthens Balance Sheet and Key Financial Indicators

• Year-on-year annualized income for Club’s mutual P&I business increases by 8% at February 20.

• Year-on-year P&I tonnage increases by 5%.

• Funds under investment generate a 5.4% return for 2020, despite challenging market conditions

• Retained claims for 2020 tracking lower than 2019, but Pool exposures continue to climb.

• Eagle Ocean Marine grows revenue while maintaining solid profitability.

• American Hellenic Hull strengthens balance sheet and key indicators as pricing power persists.

NEW YORK, MARCH 16, 2021: At its meeting conducted virtually from New York last week, the Board of the American Club noted that, despite challenging business conditions, the Club enjoyed a solid performance over
the 2021 P&I renewal season. Both its mutual and fixed premium P&I portfolios performed well while American Hellenic Hull continued to consolidate its market position, gaining further momentum since the beginning of the year.

Year-on-year annualized premium for the Club’s mutual P&I class grew by a little under 8% at February 20, while revenue for its Freight, Demurrage and Defense (FD&D) business increased by over 10%.  Taking into account growth in the Club’s charterers’ business, total income on renewal is projected to be about 8% higher for 2021 by comparison with the previous year.

Premium attributable to renewing P&I entries for 2021 saw an increase, in cash terms, of approximately 5%, a rise in conformity with that ordered by the Board last November.  However, taking into account increases in deductibles, in some cases significant, and changes to other insurance conditions, the overall premium increase, as if expiring terms had applied, was closer to 7.5%.

Tonnage in the Club’s mutual P&I class increased by about 5% year-on-year, to approximately 18 million gt overall.  However, its Freight, Demurrage and Defense (FD&D) entries moved substantially higher in tonnage terms, by nearly 14%, to 12.2 million gt.  In addition, as mentioned above, there was an increase in daily tonnage on risk in regard to the Club’s charterers’ business.

As to the performance of its funds under investment, the Club enjoyed a 5.4% return over the year to December 31, 2020.  Although not as high as the previous year’s earnings, this was nonetheless a creditable result in view of the market uncertainties which characterized the period.

Retained claims for 2020 are emerging more favorably than those for 2019.  The latter year experienced several unusually large exposures below the pooling threshold, but has been able to take some benefit from reinsurance protection as a hedge against further deterioration.  Pool claims for 2020 are developing in an above-trend direction in a manner similar to the experience of 2018 and 2019.  Although the American Club, once again, had no claim on the Pool for its own account during the year, nor has had since 2016, its contributions to pooling continue to form a significant part of the Club’s overall claims exposure.

The American Club’s fixed premium brand, Eagle Ocean Marine (EOM), has continued to make progress into the beginning of 2021.  Premium for the 2020/21 policy period to date has grown by about 10% over the figure for the previous year at the same point, and is forecast to exceed $16.5 million in total for the current facility year, a record.

Aimed at the operators of smaller vessels in local and regional trades, with a substantial footprint in Asia, EOM continues to be a steady contributor to the American Club’s mutual membership, enjoying a cumulative combined ratio of about 75% since inception.  As the fixed premium P&I space continues to undergo transition and realignment, the attraction of EOM as a haven of stability, and the gold standard for service provision, will continue to energize its development.

American Hellenic Hull, the Club’s hull and war risks underwriting subsidiary, has continued to enhance its market position.  Preliminary results for the financial year to December 31, 2020 disclose a small loss for the year, similar to that for 2019.  However, against a background of robust premium pricing, the insurer’s balance sheet strengthened at year-end, net assets (equity) increasing by 29% by comparison with the previous year.

There were also improvements in several other key ratios at year-end 2020, including the insurer’s solvency capital requirement (SCR) at 130%.

American Hellenic Hull’s performance has gained yet further momentum into the early part of the current year, with vessels insured, underwriting income, operating profitability and balance sheet strength all maintaining an encouraging upward trajectory.

Commenting upon the confluence of these positive trends across the Club’s diversified portfolio of interests, Joe Hughes, Chairman and CEO of SCB, Inc., the Club’s managers, said:  “Although uncertain business conditions prevail in both the shipping and insurance sectors, the American Club’s recent experience has been encouraging.  The 2021 renewal of the Club’s mutual P&I and FD&D portfolios proceeded in a positive direction, while both EOM and American Hellenic Hull have performed with credit over recent months.

“Although we live in challenging times, my colleagues and I are certain that the difficulties of the present will generate opportunities for the future.  These opportunities will be found across the increasingly broad marine insurance landscape which the American Club, by virtue of its diversified capabilities, is richly equipped to develop over the years to come.”

Notes to Editors

The American Club

American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) was established in New York in 1917. It is the only mutual Protection and Indemnity Club domiciled in the entire Americas and its headquarters are in New York, USA.

The American Club has been successful in recent years in building on its US heritage to create a truly international insurer with a global reach second-to-none in the industry. Day to day management of the American Club is provided by Shipowners Claims Bureau, Inc. also headquartered in New York.

The Club is able to provide local service for its members across all time zones, communicating in eleven languages, and has subsidiary offices located in London, Piraeus, Hong Kong, Shanghai and Houston, plus a worldwide network of correspondents.

The Club is a member of the International Group of P&I Clubs, a collective of thirteen mutuals which together provide Protection and Indemnity insurance for some 90% of all world shipping.

The American Club also operates a fixed premium facility, Eagle Ocean Marine (EOM), aimed at the operators of smaller vessels in local and regional trades.  Since it commenced underwriting in 2011, EOM has enjoyed considerable success in building a growing footprint in this specialist market and generating strong profitability for the Club.

American Hellenic Hull Insurance Company, Ltd. (AHHIC) is a wholly-owned, Solvency-II accredited hull and war risk subsidiary of the Club, based in Cyprus.  Since it began operating in mid-2016, AHHIC has enjoyed an increasing market presence coupled with growing premium volume and rising profitability.

For more information, please visit the Club’s website http://www.american-club.com/

P&I Insurance

Protection and Indemnity insurance (commonly referred to as “P&I”) provides cover to shipowners and charterers against third-party liabilities encountered in their commercial operations; typical exposures include damage to cargo, pollution, death/injury or illness of passengers or crew or damage to docks and other installations.

Running in parallel with a ship’s hull and machinery cover, traditional P&I cover distinguishes itself from usual forms of marine insurance by being based on the not-for-profit principle of mutuality where Members of the Club are both the insurers and the assureds.

THE AMERICAN CLUB ANNOUNCES NEW APPOINTMENTS IN ITS MANAGERS’ PIRAEUS OFFICE

Andrew Dyer recruited from leading law firm Hill Dickinson as Regional Claims Director for EMEA and Global Claims Manager for Club’s Eagle Ocean Marine business, the latter in succession to Despina Beveratou

Niki Tiga becomes Club Correspondents’ Manager, also in succession to Beveratou who returns from London to Greece, and pastures new

NEW YORK AND PIRAEUS, MARCH 9, 2021:  Shipowners Claims Bureau Inc. (SCB), Managers of the American Club, has announced important new appointments in its Piraeus office to consolidate and enhance service to Club Members and EOM Insureds both regionally and across the world.

Andrew Dyer

Andrew Dyer, currently a partner in the Greek office of Hill Dickinson, a leading international law firm, will join SCB’s Piraeus office in early April as corporate Vice President.  He will undertake the role of Regional Claims Director for the American Club’s business in Europe, the Middle East and Africa (EMEA) with coterminous responsibility as Global Claims Manager for the Club’s Eagle Ocean Marine (EOM) facility.

A well-known figure within the maritime community, Mr. Dyer brings with him a wealth of professional experience gained from his more than twenty-five years as a solicitor and fourteen years as a partner of his firm.  During his long career, Mr. Dyer has been involved in the broadest range of casualty and contract work, and every type of shipping dispute, both wet and dry.

Niki Tiga

In another new appointment in Piraeus, Niki Tiga takes on the role of Club Correspondents‘ Manager.  Ms. Tiga has been part of the Club’s management team for some ten years, having started in the London office and having more recently moved to Greece.  Her educational background, together with her experience of both P&I and FD&D claims handling, give her an excellent platform from which to fulfill her new duties.

In welcoming Mr. Dyer, SCB also says farewell to Despina Beveratou who has to date fulfilled Mr. Dyer’s forthcoming responsibilities in regard to EOM in SCB’s London office, as well as Ms. Tiga’s new duties as Correspondents’ Manager.  Ms. Beveratou will be returning from London to Greece at the end of March to pursue new interests, and leaves with the best wishes of her colleagues for every future success.

Mr. Dyer’s connection with the American Club and its Managers is of some longstanding not only personally but also by virtue of Hill Dickinson’s own long history of providing legal services to the maritime community both in Piraeus and in other major shipping centers.

Indeed, in noting Mr. Dyer’s change of career, Jasel Chauhan, head of Hill Dickinson’s Piraeus office, commented:  “During his 25 years with Hill Dickinson, Andrew made an immense contribution and helped to forge some of our strongest relationships in the Greek market.  Andrew will be missed but the role with the American Club is a fantastic opportunity and we wish him all the best.”

In addition, Tony Goldsmith, master mariner and head of Hill Dickinson’s marine business group, said:  “We have always had an excellent relationship with the American Club – both in Greece and internationally.  Having worked alongside Andrew as a colleague and a friend during the whole of his career at Hill Dickinson, his move can only serve to affirm and enhance that relationship.  We very much look forward to working closely with the American Club and Andrew in his new role.”

In summing up these recent developments, Joe Hughes, Chairman & CEO of SCB, said: “We are delighted to be welcoming Andrew to our global management team where I am certain his expertise will be of incomparable value to both the American Club and EOM over the years ahead.  The warm words of farewell from Tony and Jasel speak to the legacy he leaves at Hill Dickinson and reinforce our confidence in Andrew’s continuing success in serving the Club and EOM in the future.”

“We also extend our congratulations to Niki on her appointment as Club Correspondents’ Manager.  I am certain that she will discharge her new duties with her characteristic intelligence and vigor.

“Finally, we are very sorry to be saying farewell to Despina.  Wherever her future endeavors may lead her, she departs with the best wishes of her colleagues in appreciation of her exemplary service over many years to the Club and EOM, and of the great energy and good humor she imparted to that service.”

The American Club announces Underwriting, Business and Development and Claims Handling appointments

Recent promotions of experienced personnel and a new recruit to strengthen the Club across many areas

NEW YORK, FEBRUARY 3, 2021: Shipowners Claims Bureau, Inc., Managers of the American Club, today announced recent appointments within their US-based teams to enhance service to Club Members both within the Americas and across the world.

Steve Ogullukian

Steve Ogullukian has recently been appointed as Deputy Global Underwriting Director, a position he assumes in parallel with his continuing duties as Director responsible for the Club’s reinsurance programs. He joined the Managers in 2003 during which time he has been principally engaged in the Club’s direct underwriting and reinsurance activity, with a particular focus on the latter. Since 2013, Steve has represented the American Club on the International Group’s Reinsurance Sub-Committee. He is a well-known and highly regarded figure both within the Club’s membership and among the international insurance and reinsurance communities.

Steve Lewis

Steve Lewis has been appointed as Business Development Director for the Americas in succession to Boriana Farrar. He joined the Managers some four years ago to augment their underwriting capabilities in North America and his twenty five years of marine insurance practice across a broad range of disciplines, together with his extensive network of professional contacts, have greatly enabled the expansion of the Club’s business.

Boriana Farrar is leaving the management company to become Chief Legal Officer for a leading Club Member in California. During her more than seven years’ service, Boriana gained distinction not only for her skills as a lawyer but also for her accomplishments on the business development front.

Jack Jowers

To further enhance the Managers’ claims handling capabilities in North America, Jack Jowers was recently recruited to join their Houston office as Assistant Vice President/Claims Executive. Jack brings with him broad experience of the maritime industry from operational, legal and insurance-related perspectives. His presence in Houston will add significantly to the services available to Members based in, or trading to, the Gulf of Mexico and its contiguous regions.

Speaking in New York today, Joe Hughes, Chairman & CEO of Shipowners Claims Bureau, Inc., the Club’s Managers, said:

“We are pleased to be announcing the recent appointments of Steve Ogullukian, Steve Lewis and Jack Jowers to their new roles in service of the American Club. We are certain that they will discharge their duties with conspicuous success in those roles. At the same time, we bid a most amicable adieu to Boriana with our best wishes for the future in her own new sphere.”

ENDS

Notes to Editors

The American Club

American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) was established in New York in 1917. It is the only mutual Protection and Indemnity Club domiciled in the entire Americas and its headquarters are in New York, USA.

The American Club has been successful in recent years in building on its US heritage to create a truly international insurer with a global reach second-to-none in the industry. Day to day management of the American Club is provided by Shipowners Claims Bureau, Inc. also headquartered in New York.

The Club is able to provide local service for its members across all time zones, communicating in eleven languages, and has subsidiary offices located in London, Piraeus, Hong Kong, Shanghai and Houston, plus a worldwide network of correspondents.

The Club is a member of the International Group of P&I Clubs, a collective of thirteen mutuals which together provide Protection and Indemnity insurance for some 90% of all world shipping.

The American Club also operates a fixed premium facility, Eagle Ocean Marine (EOM), aimed at the operators of smaller vessels in local and regional trades.  Since it commenced underwriting in 2011 with its coventurers at Lloyd’s, EOM has enjoyed considerable success in building a growing footprint in this specialist market and generating strong profitability for both the Club and its co-insuring partners.

American Hellenic Hull Insurance Company, Ltd. (AHHIC) is a wholly-owned, Solvency-II accredited hull and war risk subsidiary of the Club, based in Cyprus.  Since it began operating in mid-2016, AHHIC has enjoyed an increasing market presence coupled with growing premium volume and rising profitability.

For more information, please visit the Club’s website http://www.american-club.com/

American P&I and American Bureau of Shipping (ABS) continues close collaboration on Loss Prevention initiatives

NEW E-LEARNING MODULE – CHEMICAL TANK – PROMOTES IMO BEST PRACTICES IN ACCESSIBLE FORMAT WITH ANIMATIONS BY IDESS IT

New York, October 27, 2020:  The close collaboration between the American P&I Club and ABS continues to deliver new loss prevention initiatives for the industry.

Leaders in their respective fields, the Club and ABS have worked together to produce a new e-learning module on chemical tanker operations, brought to life by state-of-the-art animations by IDESS IT, a frequent contributor to the American Club’s loss prevention capabilities.

The new e-learning module, entitled CHEMICAL TANK, has been developed in accordance with the IMO Model Course 1.03 Advance Training for Chemical Tanker Cargo Operations – 2016 Edition in compliance with the competency and knowledge requirements as contained in the 2010 STCW Code, Table A-V/1-1-3, Specification of minimum standard of competence in advanced training for chemical tanker cargo operations. It will form an important new addition to the American Club’s growing library of safety and environmental protection related materials.

This initiative is the latest development in an increasingly dynamic collaboration between the American Club and ABS in the field of loss prevention which has, in the recent past, embraced subjects as diverse as measures to prevent injury caused by slips, trips and falls, and the protection of vessels from cyber attack.

Speaking in New York, Dr. William Moore, SVP and Global Director of Loss Prevention at the American Club’s Managers, SCB Inc., said: “We are very pleased to be launching this important new e-learning tool for the promotion of best practices in the operation of chemical tankers. It is even more pleasing to be doing so in conjunction with our friends at ABS with whom we continue to develop new initiatives to enhance the safety of life and limb at sea, and the protection of the environment.”

“ABS is a leader in the classification of chemical tankers, so is uniquely well placed to work with the American Club to develop this industry leading training with the American P&I Club. Together, we are using our strong technical and sector knowledge to help drive safety performance in the industry,” said John McDonald, ABS Senior Vice President, Global Business Development.

Notes for Editors

About the American Club

American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) was established in New York in 1917. It is the only mutual Protection and Indemnity Club domiciled in the entire Americas and its headquarters are in New York, USA. The American Club has been successful in recent years in building on its U.S. heritage to create a truly international insurer with a global reach second-to-none in the industry. Day-to-day management of the American Club is provided by Shipowners Claims Bureau, Inc. also headquartered in New York. The Club is able to provide local service for its members across all time zones, communicating in a large number of different languages, and has subsidiary offices located in London, Piraeus, Hong Kong, Shanghai and Houston, plus a worldwide network of correspondents. The Club is a member of the International Group of P&I Clubs, a collective of 13 mutuals which together provide Protection and Indemnity insurance for some 90% of all world shipping. For more information, please visit www.american-club.com.

P&I Insurance

Protection and Indemnity insurance (commonly referred to as “P&I”) provides cover to shipowners and charterers against third-party liabilities encountered in their commercial operations; typical exposures include damage to cargo, pollution, death/injury or illness of passengers or crew or damage to docks and other installations. Running in parallel with a ship’s hull and machinery cover, traditional P&I cover distinguishes itself from usual forms of marine insurance by being based on the not-for-profit principle of mutuality where Members of the Club are both the insurers and the assureds.

American Club Managers announce Senior Appointments in New York

Dorothea Ioannou becomes Deputy Chief Operating Officer and Mary (Molly) McCafferty appointed as Senior Vice President and Director of Claims for the Americas

New roles, and growing responsibilities of other senior managers, signify continuing development of key executive team

NEW YORK, JULY 15, 2020:  Shipowners Claims Bureau, Inc. (SCB), the Managers of the American Club, has announced senior appointments to its management team in New York. 

Dorothea Ioannou

Dorothea Ioannou takes on the role of Deputy Chief Operating Officer (DCOO) with immediate effect, and Mary (Molly) McCafferty becomes Senior Vice President and Director of Claims for the Americas as from the beginning of September.

A New York-lawyer by training, and a well-known figure within the global industry at large, Dorothea Ioannou began her career in marine insurance over twenty-two years ago.  She joined SCB’s Piraeus office in 2005, originally as a claims specialist, but quickly moving on to be its Managing Director.  She subsequently led the American Club’s business development activity, regionally at the outset and then globally over the next several years.  Since 2018 Ms. Ioannou has been the Managers’ Chief Commercial Officer.

Molly McCafferty is also a well-known and highly-regarded figure in the maritime community. Her wealth of experience is derived from a career which has included the practice of law, P&I club correspondency and senior executive positions with international shipping companies, most recently as general counsel to a leading operator in the bulk trades.

Molly McCafferty

A US attorney by training, Ms. McCafferty is admitted to the Bars of Connecticut and Florida. Among her many professional affiliations, she is a Member of the Society of Maritime Arbitrators its on its Board of Governors. She is also a Director of New York Maritime, Inc. (NYMAR). As a key member of the senior management team, Molly’s responsibilities at Shipowners Claims Bureau will include the supervision of all claims and related activities across the Americas, in regard to which she will report to Don Moore, Global Claims Director and Joanna Koukouli as his deputy in that role, as required.

As Deputy Chief Operating Officer, Ms. Ioannou will provide support to Vince Solarino, President and COO and, by extension, to Joe Hughes, Chairman and CEO.  Her duties will entail the day-to-day oversight of the Managers’ operating activities in their offices across the world, as well as involvement in the setting of management policy and global strategy in general. She will be supported by key members of the senior management team, each with increasing responsibility as the Club continues to develop its capabilities in fulfillment of its mission for the future.

Ms. Ioannou will relinquish her previous oversight of business development to Tom Hamilton who will now take on that assignment in conjunction with his existing duties as Chief Underwriting Officer, in which position he will continue to oversee underwriting strategy.  Arpad Kadi continues as Chief Financial Officer and Dan Tadros remains as Chief Legal and Compliance Officer.  Their responsibilities will continue to entail oversight, respectively, of the growing complexities of the financial landscape within which the Club operates and of the burgeoning legal and regulatory imperatives to which its business must increasingly be modeled.

Joe Hughes, Chairman and CEO of SCB, commented: “We are delighted to be welcoming Molly McCafferty to the management team at the beginning of September.  Molly will have an important role in the supervision of all claims and related activities across the Americas.  We are also delighted to announce the elevation of Dorothea Ioannou to Deputy Chief Operating Officer.  Dorothea has been a key member of the management team for some time now and has contributed greatly to the success of the American Club, and its other business lines, over recent years.  Her new duties will be of vital importance to the future of the Club in its operations across the world over the years ahead.

“As Dorothea transitions to her new role, and Molly assumes her new responsibilities, I am sure that everyone will wish to join me in wishing them both the very best of good fortune as a part of a dedicated, and developing, senior executive team.”

ENDS

Notes to Editors

The American Club

American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) was established in New York in 1917. It is the only mutual Protection and Indemnity Club domiciled in the entire Americas and its headquarters are in New York, USA.

The American Club has been successful in recent years in building on its US heritage to create a truly international insurer with a global reach second-to-none in the industry. Day to day management of the American Club is provided by Shipowners Claims Bureau, Inc. also headquartered in New York.

The Club is able to provide local service for its members across all time zones, communicating in eleven languages, and has subsidiary offices located in London, Piraeus, Hong Kong, Shanghai and Houston, plus a worldwide network of correspondents.

The Club is a member of the International Group of P&I Clubs, a collective of thirteen mutual which together provide Protection and Indemnity insurance for some 90% of all world shipping.

The American Club also operates a fixed premium facility, Eagle Ocean Marine (EOM), aimed at the operators of smaller vessels in local and regional trades.  Since it commenced underwriting in 2011 with its coventurers at Lloyd’s, EOM has enjoyed considerable success in building a growing footprint in this specialist market and generating strong profitability for both the Club and its co-insuring partners.

American Hellenic Hull Insurance Company, Ltd. (AHHIC) is a wholly-owned, Solvency-II accredited hull and war risk subsidiary of the Club, based in Cyprus.  Since it began operating in mid-2016, AHHIC has enjoyed an increasing market presence coupled with growing premium volume and rising profitability.

For more information, please visit the Club’s website http://www.american-club.com/

American P&I Club and ABS Consulting Join Forces to Drive Cyber Awareness for Maritime Insurance

Collaboration between risk management and insurance sectors will focus on education, training and guidance to reduce maritime cyber risk

(Houston) – ABSG Consulting Inc. (ABS Consulting), a subsidiary of ABS focused on safety and risk management, and American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) have joined forces to provide education, training and insurance guidance that address maritime cyber security.

As digital transformation in the maritime industry brings both opportunities and new challenges, owners and operators are relying more on smart technologies and operational data to drive decisions and run their businesses. Comprehensive cyber security programs are not only necessary to protect operations, but are also critical to protect the overall safety of crew and the environment. More frequent cyber attacks, increased digitalization and emerging global regulatory focus are adding to immediate demands to address and reduce cyber risk across the industry’s value chain. Cyber security has become a business imperative and new measures will have an impact on how maritime vessels and facilities will be covered by insurers.

“The safety and security of our members is a priority. Having a better understanding of the tools available, the programs that can be implemented and the integration of these in the marine industry will help us provide better services to shipowners and charterers globally,” says William Moore, Director of Loss and Prevention at the American P&I Club. The work we are going to do with ABS Consulting is going to help us identify how to enhance our policies, and the offerings we need to incorporate to improve the coverage and services we offer to our members.”

“Collaborating with the American Club to build education programs for their members and industry will give us a better understanding of the real challenges we are collectively facing,” says Ian Bramson, Global Head of Cyber Security of ABS Group. “This alliance enables us to develop the tools, training and services that support compliance and help ship owners and operators put protections in place to secure their vessels – from the design and construction phases through continuous operation over their service life.”

About the American Club

American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) was established in New York in 1917. It is the only mutual Protection and Indemnity Club domiciled in the entire Americas and its headquarters are in New York, USA. The American Club has been successful in recent years in building on its U.S. heritage to create a truly international insurer with a global reach second-to-none in the industry. Day-to-day management of the American Club is provided by Shipowners Claims Bureau, Inc. also headquartered in New York. The Club is able to provide local service for its members across all time zones, communicating in a large number of different languages, and has subsidiary offices located in London, Piraeus, Hong Kong, Shanghai and Houston, plus a worldwide network of correspondents. The Club is a member of the International Group of P&I Clubs, a collective of 13 mutuals which together provide Protection and Indemnity insurance for some 90% of all world shipping. For more information, please visit www.american-club.com.

P&I Insurance

Protection and Indemnity insurance (commonly referred to as “P&I”) provides cover to shipowners and charterers against third-party liabilities encountered in their commercial operations; typical exposures include damage to cargo, pollution, death/injury or illness of passengers or crew or damage to docks and other installations. Running in parallel with a ship’s hull and machinery cover, traditional P&I cover distinguishes itself from usual forms of marine insurance by being based on the not-for-profit principle of mutuality where Members of the Club are both the insurers and the assureds.

About ABS Group

ABSG Consulting Inc. is part of ABS Group of Companies, Inc. (www.abs-group.com), a wholly owned subsidiary of ABS, one of the world’s leading marine and offshore classification societies. Through its operating subsidiaries, ABS Group provides data-driven risk and reliability solutions and technical services that help clients confirm the safety, integrity, quality and efficiency of critical assets and operations. Headquartered in Spring, Texas, ABS Group operates with more than 1,000 professionals in over 20 countries serving the marine and offshore, oil, gas and chemical, government and industrial sectors.