WHO WE ARE: The SIGCo Group, the world leader in its field, was created in 1996 to provide shipowners a solution to the new Certificate Of Financial Responsibility (COFR) regulations resulting from the US Oil Pollution Act 1990. In addition SIGCo provides niche financial products and services which are not available from their traditional insurers. SIGCo is beneficially owned by our shipowner members, therefore profits that we are able to earn from our business activities are retained or returned to those members, rather than going to third parties. Members benefit from this advantage of a mutual company but without having to make any commitment to share in liabilities. We also provide short-term value to our members by focusing on competitively priced products backed by smart, efficient service.
In our core business of COFR Guaranty provision we have worked closely with the National Pollution Funds Center (NPFC) office of the United States Coast Guard for many years (and continue to do so). Thus, as part of SIGCo’s regulatory approval process the NPFC reviews SIGCo’s Financial Statements and Reinsurance arrangements every year. Their seal of approval is necessary in order for SIGCo to continue writing COFR guaranties.
