On behalf of the ACPII  the Secraty of the Board, Ms  Liv Irene Loland  signed a Memorandum of Understanding with the  OPC Funds’ Director, Mr. Gaute Sivertsen , on 30 October 2023.

This agreement follows discussions within the sessions of the IOPC Funds’ governing bodies in recent years in respect of incidents involving insurers that are not part of the International Group of P&I Associations. The Association was formed in April 2022 to support and promote quality commercial P&I insurers. Commercial, fixed premium P&I insurers cover around 10% of the world’s tonnage and, as at October 2023 the Association counts some 337 tankers within its membership.

The ACPII has several meetings with the  IOPC Director, Gaute Sivertsen, since 2022 ,

Ms Liv Irene Loland, Secretary of the Board of ACPII and Mr Tor Erik Andreassen, Chairman of Hydor  visited the IOPC Funds’ offices in London where they signed the MoU confirming that the two parties were committed to cooperating in the event of an incident involving an ACPII-insured tanker.

This agreement marks a significant milestone  for the ACPII.