International Group of P&I Clubs

The International Group is the association of the twelve principal mutual protection and indemnity clubs, which between them insure about 90 percent of the world’s ocean-going tonnage. Its members share large claims above a retention through a pooling agreement and buy a single collective excess-of-loss reinsurance contract, the largest in the marine market. The Group also negotiates standard wordings, the Inter-Club Agreement, and the form of P&I letters of undertaking that substitute for ship arrest as security.