TMiS collaborates with Japan P&I Club
Japan’s main private ship insurer Japan P&I Club has launched a new project dubbed J-Collaboration alongside Tokio Marine (Asia) (TMiS) to provide insurance to Japanese shipping companies in Singapore starting this month now that Japanese shipping companies are showing an increased presence in Singapore.
The Japan P&I Club will provide the joint P&I insurance products in Singapore as a lead insurer and TMiS will participate in underwriting as a co-insurer. TMiS will also oversee sales and marketing and the Japan P&I Club will be in charge of claims handling. Both companies will combine their know-how to meet the needs of their customers.
TMiS will start underwriting policies for new vessels that will be built and purchased after April 1, 2022, and launch full-scale underwriting from renewals in February 2023.