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The new review system for protection and indemnity (P&I) insurance will take effect on October 15, 2025. Currently, 97% of vessels have been insured in compliance with the new requirements. The Maritime and Port Bureau (MPB) once again urges shipowners to promptly obtain P&I coverage with insurers compliant with the new system to avoid any port entry delays after the implementation date. For vessels that have not yet been insured by qualified insurers, shipowners should promptly arrange for a fixed-term deposit certificate and establish a pledge with a Taiwan-based bank, and submit these documents together with their existing P&I policies to the MPB for review.

Under the new system, vessels applying to enter or depart from commercial ports in Taiwan must obtain P&I coverage from one of the following: A member of the International Group of P&I Clubs (IG P&I Club), a Taiwan-based insurer, or an insurer rated BBB or above by an international credit rating agency (i.e., Standard & Poor’s, Moody’s, Fitch, or AM Best). Shipowners can view the list of qualified insurers through the MTNet(https://im.mtnet.gov.tw/IM10/IM100418/Default).

Insurers that have already applied for ratings from international credit rating agencies but have not yet received the results may, upon submitting relevant proof before October 15, 2025 and receiving MPB approval, be temporarily permitted to insure vessels entering or leaving Taiwan’s commercial ports until April 15, 2026. However, if a rating of BBB or higher is not obtained by that time, their eligibility to insure vessels for port entry will be revoked.

The MPB further stated that if a shipowner’s insurer has a rating of BBB or higher from one of the four major international credit rating agencies but is not currently listed on the MPB’s list of approved insurance company, the shipowner may submit supporting documents for verification. Once confirmed, the MPB will include the qualified insurance company on the list. The current published list is therefore not exhaustive.

Contact person: Section Chief Wang, Navigation Affairs Section

Tel.: 02-89782550