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Protection & Indemnity Clubs And Competition

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Chapter Summary

Protection and Indemnity (P&p;I) insurance is traditionally provided by associations of shipowners, ship-operators and charterers called Protection and Indemnity Clubs (P&p;I Clubs). Since the International Group Pooling (IGP) Agreement was necessary for the provision of insurance, the Commission came to the conclusion that restrictions on contractual freedom did not violate EC competition rules. The Commission identified three cases of IG Agreement provisions which might be problematic from the point of view of competition law. Those were the provisions regarding (1) the quotation procedure, (2) the rules on minimum cost for tankers and (3) release calls. The availability of insurance depends on the cost at which it is provided for and on the capacity of the insurance market. For some time now, it has been argued that it has become more expensive to insure liabilities than to insure property because liability claims have become more numerous and larger than property claims.

Keywords: EC competition rules; insurance market; international group pooling (IGP) agreement; Protection and Indemnity Clubs; quotation procedure



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