Marine and energy insurer Standard Club is growing its business the Asia-Pacific region with appointments and new service offerings, such as the debut of the coastal and inland class of business in Asia.
Robert Drummond, currently Standard’s managing director for Ireland, will relocate to Hong Kong to take on the role of group commercial director. Drummond has been with Standard for 37 years, and previously led Standard Asia from 2005 to 2010.
As Standard seeks to expand its business in Greater China, it has recruited a marine surveyor and an underwriter to join its Hong Kong team. These hires, Standard said, will enhance its service to members and strengthen its partnership with major Chinese insurer Ping An.
Standard Club’s joint venture with Tokio Marine & Nichido Fire (TMNF) has continued to grow, and it now underwrites 10% of P&I business in Japan. In April, Standard opened a new claims office in Tokyo, led by Japanese claims director Masaki Maeda, who works with TMNF to provide excellent claims service to Japanese shipowners.
To better serve Asian members and brokers, Standard Club launched a Japanese-language hub within its website, while a Mandarin-language hub is currently being developed. It will also soon launch its WeChat platform, which will offer news, insight and guidance to Chinese members.
In February, Standard Club will launch its coastal and inland class in Asia. The class provides specialist cover to commercial coastal vessels (typically up to 10,000 GT) operating in harbours and coastal areas. Coastal & Inland class members will be supported from the Singapore office, with the product rollout focused on the Singapore, Hong Kong, Indonesia and Thailand markets.
The coastal and inland class will also include strike and delay cover, which protects a shipowner or charterer in case their vessel is held up by strikes, port closures, collisions, breakdowns and other unexpected delays.