Aim: To underwrite good business which contributes to the mutual benefit of the membership:
KPI’s Underwriting Team dedication to innovation and obligation to high standard services have been the key success factor for achieving the area record in underwriting and premium increases, and have been important contributors to the growth in KPI’s contingency reserves.
The initial process of entering vessels normally starts with an approach to club’s management by a potential member looking for suitable cover for his risks at a reasonable price. After the first contact, Kish P&I club underwriting department will perform a two-step evaluation of risk.
To assess whether or not to provide cover for the applicant member.
Calculation of pure risk and rating the premium.
The Basic Risk Premium is adjusted depending entered vessel’s Type, age and other criteria as well as Vessel’s Condition surveys, Statistical trends, types and cost of claims.
Tight business practice
Although KPI Underwriting Management has, strict guidelines, pricing tariffs and clear authority levels manifest a centralized function, implying a common tight business practice throughout the club.
Please feel free to contact your Underwriter for further information.
Contact for Underwriting Lead:
Email: Head of Underwriting and Reinsurance