This group of not-for-profit mutual insurers is behind $3.1 billion in liability coverage available to the Shoei Kisen Kaisha Ltd., the owner of Ever Given. WSJ

This group of not-for-profit mutual insurers is behind $3.1 billion in liability coverage available to the Shoei Kisen Kaisha Ltd., the owner of Ever Given. WSJ describes some details of the arrangement: “One feature of the $3.1 billion in liability coverage in place for Ever Given is a pooling arrangement across the 13 Protection & Indemnity Clubs to cover claims from an incident of up to $100 million. Above that, reinsurance kicks in to bring the available coverage to $3.1 billion. An additional $1 billion is available for oil and pollution events. More than 20 of the world’s 25 largest reinsurance companies back the coverage available to Ever Given.” [1] [1]: https://www.wsj.com/articles/suez-canal-insurance-claims-loom-as-ever-given-blocks-shipping-11616837401 https://www.wsj.com/articles/suez-canal-insurance-claims-loo...