Corporate Governance

The club comprises members from the international shipping community and seeks to follow good governance principles that would be generally recognised throughout world markets.

There are three subsidiaries, The Standard Club Asia Ltd, The Standard Club Ireland DAC and The Standard Club UK Ltd are regulated in Singapore, Ireland and the UK respectively as insurance operations. There is particular regard for the requirements of these countries in arriving at its current practices.

These include policies on:

• board role, composition and conduct 
• board diversity
• systems and controls 
• apportionment of responsibilities 
• communication with members 
• conflicts of interest and related party transactions 
• internal controls and internal audit 
• risk assessment and management 
• business and ethical values 
• the environment 
• health and safety 
• business continuity 

The roles and responsibilities of the subsidiary boards and committees are set out in the matters reserved and terms of reference documents. The subsidiaries are committed to ensuring that all board members hold a collective set of qualities and competencies relevant to the industries in which the club operates. In addition, through its board governance policy the club aims to ensure and promote diverse board membership.