On 26 and 27 January, the Director, Gaute Sivertsen, and Claims Manager, Mark Homan, were invited to the head office of the North of England P&I Association, in Newcastle, United Kingdom.
They met with personnel from the Association’s Claims Department and delivered a presentation on the international liability and compensation regime and on the current and future challenges facing the IOPC Funds. They also discussed the challenges which arose during the handling of the Hebei Spirit incident and the lessons learned. That incident involved 15 years of close collaboration between the IOPC Funds and the Skuld P&I Club and the excellent cooperation between them contributed significantly to the successful closure of the incident last year.
This visit provided a valuable opportunity to exchange views on the handling of large spills, particularly focusing on the agreement on interim payments and the Memorandum of Understanding which exists between the International Group of P&I Associations and the IOPC Funds. In practice, these agreements between the insurer of the ship and the IOPC Funds facilitate the management of claims in a major pollution incident for the benefit of victims.
Subject to the approval of all the appropriate regulatory authorities, the North P&I Association will merge with the Standard P&I Club, on 20 February 2023. The merged organisation, the ‘NorthStandard ’, will be one of the largest providers of mutual cover in the maritime industry.