Oslo: As shipping grows both in terms of ship size and in the political spotlight, P&I Clubs need to be careful, says the president and ceo of Norway’s Skuld P&I Club.
Douglas Jacobsohn, the outgoing president and ceo of the Oslo-headquartered firm, admits P&I rates are under “significant pressure while the requirements when it comes to service and competence are increasing”.
Jacobsohn says larger vessels and more political focus on marine incidents are growing challenges for the global P&I insurance industry.
“Financially strong insurance players are crucial in this more and more challenging international liability environment,” he maintains.
In February next year Jacobsohn will step down after around 15 years in charge of the club. He will be replaced by his deputy, Ståle Hansen. Nevertheless, Jacobsohn will retain a significant role within the business as an executive director on the board.
“I know that under Ståle’s stewardship Skuld is in excellent hands and our ambitious plans for the future will be expertly managed. Ståle is highly competent and has the total confidence of me, our staff, our members and our clients,” Jacobsohn concludes. [27/05/14]