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Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. [1] 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.
Gard is a mutual company and operates around the world within marine insurance. It is the largest Protection & Indemnity insurer of the 12 P&I Clubs that are members of the International Group of P&I Clubs. Gard's customers are shipowners and operators, shipyards, and companies involved in the upstream oil and gas markets, and windfarm operators.
Marine insurance traditionally formed the majority of business underwritten at Lloyd's. Nowadays, Marine insurance is often grouped with Aviation and Transit (cargo) risks, and in this form is known by the acronym 'MAT'. It is common for marine insurance agencies to compete with the offerings provided by local insurers.
On 28 February 2014 North P&I Club acquired Sunderland Marine Mutual Insurance Company Limited, [5] a leading insurer of fishing vessels, small craft and aquaculture risks. Established in 1882 in Sunderland , Sunderland Marine is now based in Newcastle-upon-Tyne following the 2014 merger with global marine mutual insurer North.
The London P&I Club abbreviated also London Club, and The London Steam-Ship Owners’ Mutual Insurance Association Limited is a group of protection and indemnity insurance (P&I) companies for mutual maritime insurance representing global ship-owners, founded and registered in England 1866, incorporated in 1875.
At the commencement the 2024/2025 insurance year, the entered tonnage for liability insurance reached 107 million gross tons for owners and 62 million gross tons for charterers. Skuld is one of twelve members of the International Group of P&I Clubs that work closely together in reinsurance and industry matters of common interest. The P&I Clubs ...
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