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Korea Shipowners’ Protection & Indemnity Association

The “Korea Shipowners’ Protection & Indemnity Association (K.P.I.)’’ who had been licensed the operating of independent and exclusive P&I business for sea-going vessels in DPR Korea on 7th August, 2004, as being civil facility.
K.P.I provides members with very attractive rates on premium and payment terms through exclusive deals and contents of Under-writing Department, Claim Department, Risks Management Department and Account Department.
The Managers, who are qualified and highly experienced professionals, deal with:
  • Setting of premium levels for the subsequent policy year
  • Renewal negotiations
  • Formalities for entry of the Member
  • Issuance of the Certificate of Entry
  • Arrangement of full condition survey for pre-entry of ships
  • Arrangement of pre-loading/discharging survey for cargo condition
  • Settlement of claims of the Association’s Members
  • Reimbursement for the payment by the Members
  • Indemnity in respect of the claim and the legal proceedings
  • Changes to the Association’s Rules
  • Reports of the business of the Managers
K.P.I is not in a position to cover the risks under general marine policies and makes the placement with P&I risks, including:
  • Death of or Personal Injury to Non-Passengers
  • Illness or Repatriation of Non-Passengers or for Substitute Crews
  • Running Down or Collision with other ships
  • Contact with fixed and floating objects
  • Damage to Cargo on board
  • Damage to Fixed and Floating Objects
  • Pollution
  • Wreck Removal
  • Fees of Experts and Lawyers
  • Fines and Penalties
  • Charges properly and reasonably incurred for the purpose of averting or minimizing a loss
In addition, K.P.I. issues the Bunkers Blue Cards to Maritime Administration of DPR Korea in accordance with “International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001” for sea-going vessels more than 1 000 of Gross Tonnage from 17th October 2009, since DPR Korea ratified the convention.
K.P.I. should issue the Certificate of Entry, provided that the Member has paid the rated contribution to the Association in due course.
The level of the contribution is rated by the Executive Committee in consideration of the type of the vessel and gross tonnage, the built year and scope of the covered risks, the claim record and loss ratio under the concerning policy year.
The Association would hold the regular general meeting of the Members annually and non-regular general meeting of the directors if necessary.
K.P.I liaises with the P&I Clubs and Correspondents situated in other 130 countries so that the Members are able to be provided with the services by the local agents in order to protect the members/clubs interests where the claims from the entered ships are made at any time at any place in the world.
Add: Phyongchon District, Pyongyang, DPR Korea
P.O.Box: 415
Tel: 850-2-18111/999 ext. 8818
Fax: 850-2-381-4531
E-mail: kpi@silibank.com
Copyright© Foreign Languages Publishing House of the DPR Korea, 2004-2018
Add: Sochon-dong, Sosong District, Pyongyang, DPR Korea Tel: 850-2-18111(8456) Fax: 850-2-3814598 E-mail: flph@star-co.net.kp