The Preferred Provider
The combination of our Tailor-Made flexible cover, extensive experience and our global service network means we are the preferred provider of comprehensive and cost-effective insurance. We offer high limits and flexible terms, to many major and well-known charterers and traders.
North underwrites pure chartered business (time, voyage, slot and NVOCC) and, although some of our charterers also own ships, it is not a requirement or prerequisite of cover to have an owned entry. We are open for business from pure charterers and traders and our underwriters are happy to discuss the risks/liabilities any charterer or trader might face. Thereafter, we can build a suite of covers, terms and deductibles to meet specific needs – a Tailor-Made product with fixed premiums and flexible terms.
Service Excellence and Expertise
We have a dedicated and highly experienced team of more than 90 claims specialists. They are ready to meet the demands of sophisticated and international charterers and traders. We can provide the high levels of service and support that charterers and traders expect, demand and deserve.
North has a highly regarded and market-leading FD&D service, employing a dedicated team of around 40 FD&D specialists all of whom are fully qualified and highly experienced barristers, solicitors, attorneys and advocates with multi-jurisdictional experience and knowledge.
Charterers and traders must be aware that they need to consider their position and responsibilities in any charterparty chain, in particular their relationships to owners and sub-charterers. This may include the increased risks involved in time chartering in and voyage chartering out ships. Our liability team has extensive experience of the potential issues which may arise and vast experience of working with owners, charterers and traders, specifically the often complex process of maintaining a “back-to-back” position in litigation or arbitration when in the middle of a charterparty chain, whether or not the charterparties themselves are on back-to-back terms. Thus, having a complete understanding of all the competing interests and the differences arising between the contracts is crucial to finding the best solutions.
North was the first P&I Club in the world to recognise fully the importance and potential added value benefits of a dedicated Loss Prevention team. North’s Loss Prevention team is involved in all aspects of proactive claims prevention, including a particular current focus on crew safety and training. A full range of Loss Prevention material including webinars, online videos and other materials such as guide books, posters, briefing notes and industry updates is available free of charge to all our charterers and traders. Our Loss Prevention colleagues also provide extensive support to our claims colleagues.
We also have a dedicated sanctions team who can assist Members as required.
Visit our Loss Prevention pages for more information.
Experienced and Dedicated Service Team
All charterers and traders have direct access to dedicated service teams, which are created to suit the specific requirements of each Member.
Service teams are created when a new charterer or trader enters ships with North. Each team is likely to comprise a Director together with the underwriter, claims specialists, including those handling cargo, admiralty and people claims, as well as FD&D lawyers (if Members purchase FD&D cover) and a representative from our Loss Prevention department often with relevant sea-going experience. Depending on the charterers’ or traders’ geographical locations, and the place any incident may occur, support may come from one of North’s numerous offices in Europe and Asia.
Charterers and traders entered with North will have 24 hours access to our service team and year round support from our knowledgeable colleagues with extensive experience of working with charterers and traders and the problems they are likely to encounter. Visit our dedicated ‘Our People’ pages for contact details.
Cost Effective Cover
We at North are aware of the on-going economic difficulties and challenges faced by charterers and traders and the importance of providing value-for-money cover in tandem with market-leading service.
Having headquarters at Newcastle upon Tyne enables North to pursue a philosophy of cost-effective service; a value for money ethos pervades the organisation at all levels, but not at the expense of providing appropriate support.
A significant part of providing cost effective cover is to assess the risk and provide appropriate Tailor-Made cover with commensurate limits of liability – so you are not paying for something you do not need.
North is a strong, dependable and long term partner which has built its market leading reputation on solid financial foundations with excellent service and a high quality Membership.
As one of the largest P&I Clubs in the International Group, North is financially secure, has an ‘A’ rating from Standard & Poor’s and has had a long track record of delivering financial stability. Our capital adequacy is extremely strong and assessed as ‘AAA’ by Standard and Poor’s. North has enjoyed a strong financial performance and currently has a rolling five year combined ratio of 97% which makes North one of the strongest performers amongst the International Group of P&I Clubs. With free reserves in 2019 of US$463 million and total assets of almost US$1 billion North exceeds all current and anticipated regulatory requirements.
North has been working with charterers and traders for more than 70 years and our reputation as a dependable partner is recognised by all concerned.
At 20 February 2019
Our Members continue to draw great confidence from the strength and stability of the Club’s financial position, which has provided premium predictability and no unbudgeted calls for over 27 years.