The organisation which coordinates the various sectors of the shipping industry, and includes both the London marine market, underwriting hull and cargo business, and the Protection and Indemnity Clubs underwriting shipowners’ liabilities in mutual associations.

Requires all boat owners to have third party cover with a minimum £1 million indemnity on most inland waterways. The British Waterways Authority seeks evidence of insurance before issuing the boat owner’s annual licence to use its waterways.