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Skuld takes the Indian offshore by storm

Posted to Skuld takes the Indian offshore by storm (by on November 23, 2011

Skuld wins the hearts of the Indian offshore players

Skuld has made a clean sweep of the Indian offshore opportunities by being the only player to provide innovative insurance and risk management solution. It is Skuld’s unique and exclusive offer covering contractual liabilities along with other innovating solutions that have become the most sought after by offshore operators as this promises to provide an edge to their operations.

Being the leading marine insurer, Skuld provides Protection and Indemnity (P&I) and defense cover to ship owners and charterers all over the world. With OneWorld Consultants Pvt Ltd, the commercial representatives in India, Skuld practically rules the waves in the offshore sector.   

“What has earned for us the recognition and confidence of the offshore operators is that they know that we are here to stay,” says Helle Lehmann, Senior Vice President of Skuld. “In India the P & I cover business for the offshore alone has flourished in just three years of our entry into this market to touch 400,000 GT on the ship owners’ side and the premium generated on the charterers’ side has grown by approximately $ 1.5 million.”

She goes on to clarify that most offshore operators in India are already their clients. Besides Skuld has managed to provide the entire insurance package and also offer cover if there is need for contractual liability.

Traditionally Indian ship owners venturing into different areas including chartering, offshore business, logistics, dredging and other areas were compelled to go to different insurers for obtaining cover. But Skuld came and changed all this by offering a comprehensive cover at the same time offering the stability and strength of Lloyd’s having a network of P & I Club and having correspondent at every port. Besides they have the facility to assign a correspondent to deal with any problem promptly.

“We already have a big presence in the market here and people have started approaching us more than other P & I clubs,” confirms Apurva J. Shah Director of OneWorld Consultants Pvt Ltd., Skuld’s Commercial Representative in India. “We go to the clients where ever they are established, whereas other clubs based in London believe in operating from London only. We are service conscious and committed, offering various facilities all of which goes to add value to the Club.

Giving an insight into the new improved “Charterers’ Liability Cover” Jan Katkjaer, Senior Vice President, Lawyer and Deputy Head of Office Underwriting & Marketing informed,” We have redone the terms and conditions. Since our existing rules are made for our existing members and we want to offer the best product with simplified rules, we have changed all that and simplified and adapted our existing rules to meet the market requirements, extended the cover and removed what has no relevance to charterers.”


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