North P&I Club and 24Vision ink partnership agreement
North P&I Club and 24Vision announced today that they have entered into a partnership agreement, with effect from 1 July 2018, to provide P&I insurance to charterers and small ship operators.
As part of 24Vision’s wider service proposition to their marine industry clients, the partnership agreement provides for North P&I Club to be the insurance carrier for 24Vision’s marine liability products.
“An alliance with North P&I Club puts us in an excellent position to provide our clients with top-rated security,” says Rocco Bozzelli, Managing Director of 24Vision Insurance Solutions. “This agreement with North will further strengthen the business in achieving our mission to become a leading specialist and niche service provider with direct access to our clients.”
Paul Jennings, Chief Executive Officer of North P&I Club, highlights the importance of the partnership. “We are happy to work with 24Vision to develop our business through a professional and specialist partner. This agreement is of great value in helping North meets its strategic aim of diversifying our income streams.”
North P&I Club is a leading global marine insurer providing P&I, FD&D, war risks and ancillary insurance to 195 million GT of owned and chartered tonnage. Through its guaranteed subsidiary Sunderland Marine, North is also a leading insurer of fishing vessels, small craft and aquaculture risks. The Standard and Poor’s ‘A’ rated Club is based in Newcastle upon Tyne, UK with regional offices and subsidiaries in China (Hong Kong and Shanghai), Greece, Japan, Singapore and Sunderland Marine offices worldwide. North is a leading member of the International Group of P&I Clubs (IG), with over 12% of the IG's owned tonnage. The 13 IG clubs provide liability cover for approximately 90% of the world's ocean-going tonnage and, as a member of the IG, North protects and promotes the interests of the international shipping industry.
24Vision serves the marine industry with a variety of services on ships, cargoes, bunkers, risks and insurances. The business was established in 2015 and has offices in Rotterdam, Geneva, Antwerp, Monaco and Dubai. Through innovative digital solutions 24Vision delivers speed, transparency, trust and candor.