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P&I Clubs Insurance

Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I Club.Whereas a marine insurance company provides hull and machinery cover for shipowners, and cargo cover for cargo owners, a P&I Club provides cover for open-ended risks that traditional insurers are reluctant to insure. Typical P&I cover includes: a carrier's third-party risks for damage caused to cargo during carriage; war risks; and risks of environmental damage such as oil spills and pollution. In the UK, both traditional underwriters and P&I clubs are subject to the Marine Insurance Act 1906. A P&I Club is a mutual insurance association that provides risk pooling, information and representation for its members. Unlike a marine insurance company, which reports to its shareholders, a P&I club reports only to its members. Originally, P&I Club members were typically shipowners, ship operators or demise charterers, but more recently freight forwarders and warehouse operators have been able to join. Introduce The vessel's staff to: The Development of the P&I Insurance. The Scope of the P&I reinsurance Cover. How the mutual Clubs are managed. P&I Clubs Gard    • P&I Clubs Gard   P&I Clubs Insurance    • P&I Clubs Insurance   P&I Clubs Guidelines    • P&I Clubs Guidelines - Protection and Inde...   Don't Forget to Subscribe Us Like Facebook:   / marineonlineyoutube   Follow Twitter:   / marineonlineyou   Follow Google+ https://plus.google.com/1074502344259... Website: https://marineonlineyou.blogspot.com/