Eagle Ocean Marine (EOM), the American Club’s facility providing fixed P&I cover chiefly to the operators of smaller vessels in local and regional trades, has entered its 10th year of business.
EOM’s primary security is provided by the American Club. However, unlike the American Club, EOM’s facility years commence on July 01. EOM traditionally arranges its reinsurance programs for the following 12 months from that date. The renewal of this program was recently completed on favorable terms, mainly with underwriters with Lloyd’s, EOM said.