Circular No. 9/96 - Shipowners Insurance & Guaranty Co. (SIGCO)
November 22, 1996
To: MEMBERS OF THE ASSOCIATIONCircular No. 9/96
THE SHIPOWNERS INSURANCE AND GUARANTY COMPANY LTD. (SIGCO)
We are attaching a copy of a press release issued on November 20 by Stockton Reinsurance regarding the formation of a new vehicle to provide COFR guaranties under OPA 90. SIGCO will replace the First Line program after December 28, 1996.
We are not aware of the rating structure of SIGCO. The managers will be pleased to assist members with any aspect of replacing existing COFRs in this new facility.
Shipowners Claims Bureau, Inc., Manager
for THE AMERICAN CLUB
Thomas J. McGowan
President & COO