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  • PROTECTION AND INDEMNITY INSURANCE

     
     

    This insurance, usually referred to as "P&I," provides cover to ship-owners, operators, and charterers for third-party liabilities encountered in the commercial operation of entered vessels

     
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PROTECTION AND INDEMNITY INSURANCE

This insurance, usually referred to as "P&I," provides cover to ship-owners, 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:

a) Loss of life, injury and illness of crew, passengers and other persons

b) Cargo loss, shortage or damage

c) Collision

d) Damage to docks, buoys and other fixed and floating objects

e) Wreck removal

f) Pollution

g) Fines and penalties

h) Mutiny and misconduct by crew

i) Crew repatriation and substitution

j) Damage to property on board the insured vessel

k) Quarantine l) Vessel Diversion Expenses

m) Unrecoverable General Average contributions

n) Vessel's proportion of General Average Briefly the P&I insurance covers what are excluded from the H&M policy and vise versa. The yacht owner consequently will be a member in the P&I club. The period of P&I policy is 12 months.