In its core business of COFR Guaranty provision, SIGCo has worked closely with the National Pollution Funds Center (NPFC) office of the United States Coast Guard for many years (and continues 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 for SIGCo to continue writing COFR guaranties.
The SIGCo Group was created in 1996 and quickly became the leader in its field, providing shipowners a solution to the new Certificate of Financial Responsibility (COFR) regulations resulting from the US Oil Pollution Act 1990.
SIGCo mandated Hubelia to automate its processes and develop new applications to manage new types of insurance policies. The objective of this project was to develop a platform that standardized and automated operations, ensured error-free data entry, and generated reports for industry regulators, clients, and underwriters. Given the sensitive nature of the data SIGCo handles, Hubelia was also charged with securing the company’s infrastructure, communications, and applications.