Standard Club opens Tokyo claims office

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The Standard Club has opened a claims office in Tokyo as it marks the twentieth anniversary of its joint venture with Tokio Marine & Nichido Fire Insurance (TMNF) to underwrite P&I business in Japan, Tokio Standard for the 21st Century (TS21).

According to a statement from the marine insurer, 8% of its P&I business is being underwritten in Japan.

The new claims office will be led by Masaki Maeda as claims director, who will work to provide outstanding claims service to Japanese shipowners.

Maeda will work with TMNF in servicing TS21 members through claims handling and provision of general claims

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Reinsurers in line to feel the brunt of Suez blockage costs

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About 400 vessels were impacted by the closure of the canal, with some having to take the much longer route around Africa to deliver their cargo.

Ships usually have protection and indemnity (P&I) insurance, which covers third-party liability claims. Separate hull and machinery insurance covers ships against physical damage.

Alan Mackinnon, chief claims officer for UK Club, the Ever Given’s P&I insurer, told Reuters that the club expected a claim against the ship’s owner from canal authorities for possible damage to the waterway and loss of revenue. The club also expects separate claims for compensation from the owners of some

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