A study on P&I Club and its development in China

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A study on P&I Club and its development in China

 

Author: Wang, Jingwen
Title: A study on P&I Club and its development in China
Degree: M.Sc.
Year: 2009
Subject: Hong Kong Polytechnic University -- Dissertations
Marine insurance -- China
Marine insurance claims -- China
Department: Graduate School of Business
Pages: 71 leaves : ill. ; 31 cm.
InnoPac Record: http://library.polyu.edu.hk/record=b2355989
URI: http://theses.lib.polyu.edu.hk/handle/200/5750
Abstract: The development process of P&I Clubs is actually a microcosm of the world's maritime history, however, the birth of the P&I Clubs is only a short period of one hundred years, and relatively, P&I insurance in China has even a shorter history since the year of 1984 when China P&I Club was established. Currently, Approximately 90% of all the world's merchant tonnage is entered with the 17 P&I Clubs and their affiliates who make up the International Group of P&I Clubs. Concurrently, the rapid growth of the Chinese fleet attracted the interest of many of the P&I Clubs in the International Group, most of who are keen to pick up tonnage from the once-again emerging maritime nation. Meanwhile, China shipowners' Mutual Assurance Association (CPI) was established on Jan 1st, 1984 in response to market demand. Thus, how these worldwide P&I Clubs, including China P&I Club can play a better role in the contribution to the risks minization of marine industry is a problem in response to the demand of growing global fleet. This article tries to review the brief development history of P&I Clubs coincided with a study on its nature of mutuality in order to identify the development tendency of international P&I market. Particularly, some suggestions on the legislation in relation to P&I insurance in China are given accordingly.

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