UAE issued a circular on the protection and indemnity clubs

The UAE Federal Maritime Administration (FMA) represented by the Ministry of Energy and Infrastructure has issued a circular about the protection and indemnity clubs approved by the UAE Maritime Administration.

This circular was issued on 2 June 2023.

It is addressed to all protection and indemnity clubs, marine insurance companies, ship owners, managers, operators, and port authorities.

The UAE Maritime Administration is currently in the process of updating its existing list of protection and indemnity clubs that issue Blue Cards and seafarers' insurance for UAE-flagged vessels.

The administration aims to expand the list beyond the members of the International Group of Protection and Indemnity Clubs (IG P&I Clubs), provided that certain requirements are met. These requirements include:

The clubs must have S&P Global ratings of 'A' or higher.
They must provide a list of claims exceeding US$10 million or details of the five largest settled or reserved claims.
The claims settlement authority should be equal to or higher than the offered policy limit.
They must provide evidence of membership under a recognized maritime-related professional agency or regulatory body.
Copies of the Certificate of Insurance, Blue Cards, and MLC Certificates must be submitted.
The Managing General Agent (MGA) must confirm the Agency Agreement/Binding Authority Agreement (BAA) on a multi-year agreement basis, with a minimum duration of 24 months.
They must provide evidence of having Professional Indemnity insurance with a limit of no less than US$10 million.
The insurer must confirm the availability of an online Vessel Search Facility.

Clubs and companies interested in obtaining accreditation from the UAE Maritime Administration must submit their applications before June 30, 2023, by emailing shipping@moei.gov.ae.