NorthStandard P&I Association: Comprehensive Protection for Your Business

NorthStandard P&I Association offers a range of protection options for businesses, including protection against physical damage, cargo losses, and liability claims.

Their comprehensive protection plans are designed to mitigate risks and ensure business continuity.

With NorthStandard P&I Association, you can enjoy peace of mind knowing that your business is protected against unforeseen events.

Their protection plans are tailored to meet the specific needs of each business, providing customized coverage that addresses unique risks and exposures.

North P&I Club was formed in 1860 from a series of amalgamations in Newcastle upon Tyne, making it one of the world's first mutual associations providing personal injury and collision liability cover for steamships.

It started as the North of England Iron Steam Ship Protecting Association and had a significant merger with the local Steam Ship Owners’ Mutual in 1885, adding cargo indemnity cover.

North P&I Club became the leading P&I club in Britain by 1914, but lost business after World War II due to the decline of the British merchant navy.

A gradual revival began in the 1960s with the appointment of managers Alec Murray and Len Harrison, who helped the company regain its footing.

North P&I Club became a member of the London Group of protecting and indemnity (P&I) clubs in 1969, which later became the International Group.

The company has continued to expand its presence globally, opening branch offices in Hong Kong in 1995, Greece in 2000, Singapore in 2007, and Japan in 2012.

North P&I Club has maintained a tradition of having two managing directors since 1885, with the current joint management team consisting of Alan Wilson and Paul Jennings, who were appointed in 2009.

North Group, which includes Sunderland Marine, has a significant global presence with offices and subsidiaries in various countries, including Australia, New Zealand, Hong Kong, and the United States.

North Group is authorised by the UK's Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, giving it a strong and stable reputation.

North of England P&I Designated Activity Company, a wholly owned subsidiary of North, underwrites the company's business in the EEA and is regulated by the Central Bank of Ireland.

NorthStandard P&I Association offers a range of benefits to its members, including access to a comprehensive range of insurance coverage for shipowners, charterers, and cargo owners.

Their insurance coverage is designed to protect against a variety of risks, including hull and machinery damage, cargo loss or damage, and liability for third-party damage or injury.

One of the key features of NorthStandard P&I Association is its commitment to providing fast and efficient claims handling, with a goal of settling claims within 30 days.

Their experienced team of claims handlers works closely with members to ensure that claims are resolved quickly and fairly.

The good news is that the merger will have no impact on any cover already in place. This means that all existing insurances will continue uninterrupted in accordance with their terms.

All existing insurances, certificates, blue cards, guarantees, undertakings, powers of attorney, and other insurance or legal documentation bound or issued by insurance underwriting entities in either North or The Standard Club prior to 20th February 2023 will remain unaffected.

The change of name of The North of England Protecting and Indemnity Association Limited will not affect the validity or enforceability of documents issued under that name, so you don't have to worry about any changes to your documentation.

The new combined rules are based on Standard's rules, which are generally more modern in tone and have been formally reviewed by lawyers Reed Smith.

The process of combining the rules was split into two broad sections: "Scope of Cover" and "Mechanical Provisions". The new rules will be available to view on the NorthStandard website in November, along with supporting documents to help Members navigate the changes.

The new wordings provide a wider cover than the old rules, wherever reasonably possible, which is a tangible merger benefit to Members of both legacy businesses.

Mechanical Provisions have been drafted to mirror the move into operation of the business through the legacy North corporate structure. This means a move away from some of the terminology and definitions used under the North rules.

The new rules will come into operation from noon on 20 February 2024, ensuring that Members of both legacy businesses have time to adjust to the changes.

You can continue to contact NorthStandard's team for guidance and support.

NorthStandard will provide timely guidance, continuous support, and efficient claims handling.

You can reach out to the team in the usual ways if your documentation includes contact information for North, Standard Club, or correspondents or agents authorized by either organization.

Documentation issued after the merger date will include a relevant NorthStandard contact.

NorthStandard P&I Association has a robust governance structure in place to ensure the effective management of its operations. The association is governed by a Board of Directors, which is responsible for making key decisions and overseeing the overall strategy of the organization.

The Board of Directors is comprised of 10 members, each with a unique set of skills and expertise. These members are elected by the association's members and are responsible for setting the association's direction and policies.

NorthStandard P&I Association is committed to transparency and accountability in its governance practices. The association's annual report and financial statements are made publicly available, providing stakeholders with a clear understanding of its financial performance and operations.

The association's governance structure is designed to promote collaboration and cooperation among its members. This is reflected in the way the Board of Directors works together to make decisions and set priorities for the organization.