Atlantic Insurance & Reinsurance Brokers predicts shipowners can expect a better level of service, and benefit from increased competition, following the merger of North P&I Club and the Standard Club.

Chief commercial officer Richard Adler said he believes the move is a “breath of fresh air” that will make the merged club better equipped to handle increased volatility in the insurance markets.

“It is an opportunity to prepare the mutual P&I system and shipping for the challenges that new environmental regulation, climate change, increased sanctions and other possible black swan events will bring,” he said in the broker’s P&I report.