The South of England Protection and Indemnity Association (Bermuda) Limited (“ SEPIA”), is a new independent Class II Mutual club which is registered under the laws of Bermuda in order to provide an alternative to the International Group of Protection and Indemnity Clubs for Shipowners and Charterers.
SEPIA commenced underwriting on 20th February 2004 in accordance with the Bermudian regulatory requirements and has in place an excess of loss reinsurance programme to protect the Club for US$24,900,000 excess of US$100,000 placed 100% with Lloyd’s of London and other Standard & Poors “A+” rated security. Additional reinsurance with Lloyd’s of London security up to US$100,000,000 can be competitively purchased as necessary on an individual basis.
SEPIA appointed Captain Christof Lüddeke to act as Chairman of the Board of Directors during the formative stages of the Club and as the Club develops, a Board will be elected from the Membership. Captain Lüddeke is a serving Member of the Technical and Advisory Board of Germanischer Lloyd and has been elected to the Honourable Company of Master Mariners, London and the International Shipmasters’ Federation, London. He formerly headed Mediterranean Shipping Lines as Director of the legal and insurance department. |
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