“This change will ensure clearer conditions and greater contract certainty for our customers,” said Bjørnar Andresen, Gard’s Chief Underwriting Officer.
For 40 years, Gard has provided P&I cover for charterers, expanding to commodity traders nearly 30 years ago. Previously, the cover terms were found in the Certificate of Entry which incorporated the P&I Rules for shipowners with additions and exclusions made for charterers’ and traders’ risks.
Simpler and more intuitive
To better serve the needs of charterers and traders, Gard’s Board of Directors has approved a new set of separate rules. While the new rules are still based on the familiar P&I named risks, they include simplified conditions and a more intuitive structure, making it easier for customers to understand the provisions.
Learn more about Gard’s P&I rules for charterers and traders in our webinar: Video.
