Shipping Secretary T.K. Ramachandran recently confirmed the government’s intention to proceed with setting up the club, following a tender process to appoint consultants and a pending proposal to be submitted to the Union Cabinet. The club would be designed to insure third-party liabilities – including oil pollution, wreck removal, and cargo loss – traditionally covered by international P&I clubs, primarily the London-based International Group (IG), which dominates the global maritime liability space. He has appointed ACE Insurance Brokers Pvt Ltd to help assess launching India Club.
