The recently launched Singapore War Risks Mutual (SWRM) is an initiative of the Singapore Shipping Association (SSA) but in insurance terms is an offshoot of the Standard Club, a leading protection-and-indemnity (P&I) underwriter
Singapore thus now joins other major maritime nations such as Greece, Norway and Japan in having its own dedicated war-risks facility
David Roberts, managing director of Charles Taylor Mutual Management (Asia), which acts as manager of Standard Club Asia, explained: “Setting up the SWRM was a strategic decision designed to give Singapore more control over how risk is managed.
