Circular No. 9/97 - COFRSURE
To: MEMBERS OF THE ASSOCIATIONAugust 8, 1997
Dear Member:Circular No. 9/97
The Managers have recently received news of another COFR scheme based in Bermuda which may be of interest to Members.
COFRSURE is an insurance based scheme, under which Scandinavian Reinsurance Company Limited will provide a guarantee issued on its behalf by Terra Nova Underwriting Agency Ltd., based in Bermuda. The scheme was approved by the U.S. Coast Guard on May 30, 1997.
As in the case of other COFR providers, applicants are required to obtain documentation from their P&I Club. The documentation takes the form of three letters in substantially the same form as those issued by the Club in respect of other schemes. These letters can be provided by the Club upon the request of Members who wish to subscribe to the COFRSURE facility.
Further information about the scheme can be obtained from the following address:
Terra Nova Underwriting Agency Ltd.,
Scandinavian Reinsurance Company, Ltd.
Richmond House, 2nd Floor
12 Par-la-Ville Road
Hamilton, Bermuda HM 08
Fax: (441) 292-1454
Shipowners Claims Bureau, Inc., Manager
for THE AMERICAN CLUB
Joseph E.M. Hughes
Chairman & CEO