Mutual H&M

The Association’s Marine Hull facility was set up in 1998 under the approval of the Association’s Board of Directors. The initiation of the Hull facility marks the shift of the Association’s emphasis from traditional P&I to a diversified business portfolio in order to meet the demands of the Members for One-Stop Service and seamless insurance coverage. The Hull facility provides wide coverage for marine risks (Mutual H&M, Disbursements and War Risks) in addition to the traditional P&I covers to Members, providing them with more options to streamline their insurance arrangement and narrow any gap that may exist in their insurances.

Mutual Hull Covers are offered to members on a mutual basis either stand-alone or as a package in order to address Members’ diverse needs and requirements.  

On the principle of mutuality, the Association, in addition to its traditional P&I covers, offers Mutual Hull & Machinery insurance based on standard hull conditions, Increased Value and War Risks conditions according to the usual Hull Clauses in the Association’s Rules, and the scope of coverage is identical to PICC 86 Clauses. The Association has also been flexible on the hull clauses by adopting widely recognized conditions such as Institute Time Clauses, PICC Clauses (for worldwide and coastal trading vessels) tailored to meet individual Member’s needs.