Protection and Indemnity Insurance
This insurance, usually referred to as "P&I", provides cover to shipowners, operators, and charterers for third-party liabilities encountered in the commercial operation of entered vessels.
The main risks covered are liabilities, expenses, and costs for:
- Loss of life, injury and illness of crew, passengers and other persons,
- Cargo loss, shortage or damage,
- Damage to docks, buoys and other fixed and floating objects,
- Wreck removal,
- Fines and penalties,
- Crew repatriation and substitution,
- Damage to property on board the insured vessel,
- Vessel Diversion Expenses,
- Unrecoverable General Average contributions,
- Vessel's proportion of General Average.
Our primary insurance product is P&I cover, which is marked by the high level of service offered to its assureds in respect of the risk management, claims handling and providing general advice on shipping matters. In particular, our experienced claims handlers work closely with its assurreds to solve problems and minimize losses and liabilities. In addition, our claims and other service teams are able to provide pro-active contractual and loss prevention advice to avoid problems before they arise.