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Shoreline Timeline

Shipowner members and clients benefit from over two decades of Shoreline innovation and expertise.

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  1. 1994

    Enactment of the US Oil Pollution Act 1990 (OPA 90)

  2. 1995

    Shoreline is founded and issues its first COFRs

    Our original COFR facility was established as Shoreline Mutual (Bermuda) Ltd to provide Certificates of Financial Responsibility (COFRs) at cost to members (shipowner insureds). This was in direct response to OPA 90. The facility is run as a not-for-profit organization, managed by Mutual Risk Management (MRM).

  3. 1996

    Pioneering reinsurance arrangements

    Supported by Catlin at Lloyds, we eliminate the risk of a cash call falling on our members with a COFR, keeping costs as competitive as possible while delivering greater peace of mind.

  4. 1997

    Arvak Ltd joins the group

    Acquired by MRM, Arvak (ex Skuld) continues as a separate COFR provider, reinsured under a common Slip.

  5. 2005

    Shoreline’s 10th anniversary

    Shoreline celebrates a decade of supporting shipowners.

    Shoreline covers a third of the world’s fleet

    We reach a milestone, providing COFRs to over one third of the world’s blue-water fleet.

  6. 2006

    Shoreline issues its first ICBs

    Following the introduction of the US Customs and Border Protection Service directive, crew and passenger manifests must be filed, with an International Carrier Bond (ICB) in place, before entering the US. Shoreline’s swift, low-cost solution ensures seamless ship operations.

  7. 2007

    Client portal launched

    We become the first COFR provider to offer a fully interactive, online portal to arrange and verify cover and pioneer digital certification.

  8. 2009

    Environmental awareness initiative begins

    We appoint Dr Anthony Knap, now Endowed Chair of Geosciences at Texas A&M University, to spearhead our environmental awareness initiative for shipowner members, covering topics as wide ranging as oil spill contingency planning to the impact of climate change on the industry.

  9. 2011

    New industry link

    Shoreline provides the sector’s first direct online link with the US Coast Guard. Members can receive feedback on liability related issues and other significant matters.

  10. 2012

    Lloyd’s Coverholder and Reinsurance facility for War Blue Cards

    We create Shoreline Passenger Solutions (SPS) for passenger ships and ferries covered by the Athens Passenger Liability Regime. The solution covers all Flag States within the EU and other subscribing states.

  11. 2014

    Our COFR program moves seamlessly to a new entity, Maritime Insurance Solutions Ltd (MISL), as it is today

    The restructuring minimizes administration costs. Savings here, coupled with a reduction in reinsurance costs, enable us to reward our members for their loyalty through the policy holder dividend program. First Canadian Carrier Bonds issued.

  12. 2015

    Shoreline’s 20th anniversary

    Restructuring for further cost efficiencies
    Launch of members’ policyholder dividend program
    First Canadian Carrier Bonds issued

    Our COFR program moves seamlessly to a new entity, Maritime Insurance Solutions Ltd (MISL), as it is today. The restructuring minimizes administration costs. Savings here, coupled with a reduction in reinsurance costs, enable us to reward our members for their loyalty through a new dividend program.

    Average COFR annual premium at all-time low

    The COFR guarantee rate has fallen steadily over the years to $2,000, almost five time less than in 1995.

  13. 2016

    200m GT now covered

    We reach another Shoreline milestone, while committing to introducing further industry innovations.

  14. 2017

    Shoreline rebrands

    We launch our new brand identity.

  15. 2018

    Shoreline provides Integrated Crime and Cyber Insurance

    We respond to the marine industry’s need for an all-in-one insurance solution, covering the risk associated with both traditional and cyber-crime in modern marine operations.

    We launch our new website

    Captain Thomas Brown appointed as Shoreline Ltd CEO effective from 1st September