The UK P&I Club has unveiled UK Fixed, a new fixed premium Protection and Indemnity (P&I) insurance product tailored for owners of smaller vessels. The launch follows the integration of Thomas Miller Specialty Marine (TMS) into the Club’s operations.
UK Fixed offers fixed premium P&I coverage for a diverse range of vessels, including offshore support ships, tugs, utility craft, general cargo vessels, and inland watercraft. The new product builds on TMS’s existing fixed premium portfolio and marks a strategic step in the Club’s continued expansion within the commercial marine insurance market.
The product is fully integrated into the UK P&I Club’s underwriting framework, giving policyholders access to the Club’s comprehensive risk management and loss prevention services. This alignment aims to ensure a consistent level of service across both mutual and fixed premium products.
Fixed premium P&I insurance serves as an alternative to traditional mutual cover, particularly suited to smaller vessel operators seeking cost predictability and streamlined coverage. This model has seen increased adoption in recent years, especially among regional and specialist shipowners who may not require the full range of benefits associated with mutual association membership.
As one of the world’s oldest and largest mutual marine liability insurers, the UK P&I Club joins a growing number of providers enhancing their fixed premium offerings to meet evolving market needs.
