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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.
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.
Abaft (preposition): at or toward the stern of a ship, or further back from a location, e.g. "the mizzenmast is abaft the mainmast". [1]Aboard: onto or within a ship, or in a group.
Although Gard's P&I business started in 1907, its marine insurance activities can be traced back to as far as 1867 with the establishment of Æolus, [2] which later became part of the Storebrand group. Over time, the importance of Arendal as a major Norwegian shipping-hub waned. The Second World War also took a heavy toll on owners insured with ...
Nationwide Mutual Insurance Company and affiliated companies, commonly shortened to Nationwide, is a group of large U.S. insurance and financial services companies based in Columbus, Ohio. The company also operates regional headquarters in Scottsdale, Arizona and Des Moines, Iowa . [ 2 ]
When shopping for car insurance online, it is important to compare multiple quotes, explore discounts, and be aware of the pros and cons of buying car insurance online. It’s easier than ever to ...
Under Section 39 of the Marine Insurance Act 1906, in a voyage policy there is an implied warranty that the vessel is "reasonably seaworthy in all respects": S. 39 (1) In a voyage policy there is an implied warranty that at the commencement of the voyage the ship shall be seaworthy for the purpose of the particular adventure insured.
A shipping agency, shipping agent, or ship agency is the term used to refer to the appointed companies that handle operational and procedural (legal) requirements for a commercial vessel's call at a port for the purposes of cargo handling (loading/discharging), emergency calls, repairs, crew changes, or ship demolition, and protect the general interests of their principals on behalf of ship ...