About Steamship Mutual

Steamship Mutual

The Steamship Mutual Underwriting Association (Bermuda) Limited ("Steamship Bermuda") and The Steamship Mutual Underwriting Association Limited ("Steamship London") are mutual Protection and Indemnity Associations, otherwise known as P&I Clubs. Both Clubs are members of the International Group of P&I Clubs and participants in the International Group Pool.

Steamship London was established in London in 1909, and underwrote mutual P&I and Freight, Demurrage and Defence cover (FD&D) until 1974. As at 20th February 1975, the majority of its P&I Membership transferred to Steamship Bermuda. Steamship London ceased underwriting P&I (Class 1) and FD&D (Class 2) cover for a period with effect from 20th February 1977, but continued to handle the "run-off" of claims arising up to that date. Steamship London again underwrote Class 2 cover from 20th February 1985 until 20th February 1987 when the Club ceased all active underwriting. Thereafter Steamship London continued to run-off its own claims and to act as the London Representative of the Managers of the Bermuda Club until 20th February 2000 when the decision was taken to re-establish it as an active underwriter. Steamship London recommenced its original role as an active insurer of both Class 1 and Class 2 risks with effect from 20th February 2003.

Current Members of Steamship London are automatically also Members of Steamship Bermuda and consequently beneficiaries of the Steamship Mutual Trust ("the Trust").

Steamship Bermuda was incorporated in Bermuda by statute in 1974 and began to underwrite P&I risks on 20th February 1975.

The Club has appointed Managers in Bermuda, who have in turn delegated a substantial part of their day to day functions to representatives in London, Hong Kong and Rio de Janeiro. The Managers' representatives are responsible for the day to day handling of claims and the administration of the Club's financial and underwriting functions in accordance with the policies laid down by the Directors and subject to the supervision of the Managers in Bermuda. The Managers' London representatives co-ordinate these functions with the representatives in Hong Kong and Rio de Janeiro.

The function of both Clubs is to provide cover to shipowners (and charterers) for legal liabilities they may incur in connection with the operation of their vessels.