Islamic P&I Club is a mutual and non-profit organization, with management office in Dubai and branches in Jakarta, Indonesia and London, U.K. principally involved in the business of insurance and reinsurance liability covers such as Protection & Indemnity, Freight Demurrage & Defence, Hull & Machinery, Charterers’ Liability, Loss of Hire and War Risk through it’s associate companies. The Club is managed under the direct control of its Managers.
The Club guiding principle is quality services with providing insurance and reinsurance liability covers, which are competitive with other P&I Clubs. Islamic P&I Club’s membership is a full of sharing experiences in which results more benefit for the Members.
Islamic P&I Club established in 2001 by the decision of 60 shipping companied under the umbrella of the Organization of the Islamic Conference. Islamic P&I Club supported by international reinsurance markets through "A" rated companies by Standard & Poor's, is providing full P&I and FD&D cover up to the limit of liability USD 500 million.
At the early stages it was established under the name of Asian P&I Club, then in Oct. 2001, the Club entered under the umbrella of Organization of the Islamic Shipowners’Association (OISA). Consequently the name changed to Islamic P&I Club.
Islamic P&I Club, same as the other P&I clubs, is an association of Shipowners and Charterers, who as the Members control the Club. Each member has a voice in the formation of policies at the Annual General Meeting. The Directors who are elected out of the Members and the Managers are responsible for formulating the underwriting policy, financial planning and the extension of covers.
Islamic P&I Club shall play major role in the international marine insurance market to provide OISA member and non-member shipowners and charterers with high quality and cost-effective insurance solution having close cooperation with the prominent reinsurance companies and major P&I clubs.
Islamic P&I Club is supported by its excellent network of correspondents, who are amongst the best to be found in all the major ports of the world. They offer expertise and assistance and are appointed for the benefit of Islamic P&I Club Members. Islamic P&I Club requires its correspondents to help the Members by immediately sending of qualified surveyors and experts to the vessel, to assist the Masters by making dynamic suggestions when necessary.
As part of the Club services to an entered vessel, the Club (if necessary) will authorize its correspondents for arranging letter of guarantee to avoid the arrest or detainment of the vessel in respect of claims or events falling within the scope of Islamic P&I Club’s covers. The Club is also ready to assist the Members in evaluation of contracts concerning charter parties, the clauses in bills of ladings and the relevant certificates demanded by port authorities, etc.
Shipowners interested to register their ships up to 10,000 GT with Islamic P&I Club are requested to fill in the Application Form and fax it to +971 4 397 8495.
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