EC PUBLISHES P&I CLUBS’ EXEMPTION RULING
The European Commission has published the details of its April 12
decision to exempt the International Group of Protection and Indemnity
clubs from European competition laws.
The EC said that the claim-sharing agreement of the International Group,
a worldwide association of 19 P&I clubs, is exempt until February 2009.
The group of P&I clubs insures 89 percent of worldwide ship tonnage and
almost 100 percent of European tonnage, the EC said.
The EC decision requires the International Group to file a report
annually to explain whether the claim-sharing pooling agreement remains
necessary to allow the P&I clubs to provide the level of coverage to which
they have agreed.