Over the past decade, protection and indemnity insurers have been expanding outside of their mainstream mutual business to develop additional income sources.
The moves have, at times, been criticised by brokers for using up shipowner members' money for very little end result, or even for being a drain on resources.
The New-York based American Club — one of the smaller P&I clubs — thinks it has found the right approach through its fixed premium company Eagle Ocean Marine (EOM).
