Protection and Indemnity insurance, (P&I) covers practically all maritime liability risks associated with the ownership and operation of a vessel, including third-party risks for damage caused to cargo during transit, risks of environmental damage such as oil spills and pollution, war, and political risks.
Scope of Cover The main risks covered are liabilities, expenses, and costs for:
- Cargo Loss of life, injury and illness of crew, passengers and other persons.
- Loss, shortage or damage
- Collision
- Damage to docks, buoys and other fixed and floating objects
- Wreck removal
- Pollution
- Mutiny and misconduct by crew
- Crew repatriation and substitution
- Damage to property on board the insured vessel
- Quarantine
- Unrecoverable General Average contributions
- Vessel’s proportion of General Average