General rules

  1. Foundation and registered office of the club

    The name of the Club is Norwegian Hull Club - Gjensidig Assuranseforening, which is an amalgamation of:
    Bergens Skibsassuranseforening – Gjensidig, founded on December 17, 1936 and Unitas – Gjensidig Assuranseforening, founded on September 28, 1951, and clubs earlier merged with these.

    The registered head office of the Club is in Bergen, with branch offices in Oslo, Kristiansand and London.

  2. Business objective

    The objective of the Club is to underwrite direct mutual non-life insurance within the branch of marine and transport insurance, reinsurance, and other business naturally related to insurance.

  3. Minimum insurance sum

    The Club shall have at least 25 insured entries, representing a total minimum sum
    insured of NOK 500 million.

  4. Membership

    Every assured in the capacity as owner is a member of the Club, unless otherwise stated in this paragraph, or as individually agreed.

    The Club may grant membership to a lessee, charterer, operator, mortgagee or other coinsured. The Board of Directors stipulates guidelines regarding the assessment if, and to whom, membership shall be given.

    The Club may grant membership to a Captive insurance company at the discretion of the Board of Directors. Otherwise, reinsurance  does not give right to membership.

    Insurance at fixed premium does not give right to membership. The Board of Directors may stipulate the limits for how much of the insurance portfolio that may be accepted at fixed premium. The Board of Directors may stipulate that certain insurance products can only be enentered into on a fixed premium basis.

    Where one insurance agreement gives membership to more than one person, these members are considered as “Joint Members”.

    Membership constitutes rights and duties according to Chapters 2 and 3 of the Articles.

    Membership commences when the insurance has taken effect and ceases on expiry of the agreed insurance period. When renewing an insurance it is a precondition for membership that the above conditions are complied with.