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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.
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.
In 1885 North P&I Club added cargo indemnity cover by merging with the local Steam Ship Owners’ Mutual and, by 1914, had become the leading P&I club in Britain. North P&I Club lost business after World War II with the decline of the British merchant navy. A gradual revival began in the 1960s with the appointment of managers Alec Murray and ...
The UK P&I Club was founded as the United Kingdom Mutual Steam Ship Assurance Association. [7] In 1886, Thomas Miller, took over the management of the club and the company Thomas Miller still manages the UK P&I Club as of 2023. [8] [9] [10] In 2018, the insurer began the process of setting up a subsidiary in Rotterdam as a result of the Brexit ...
UK P&I Club This page was last edited on 12 July 2018, at 17:02 (UTC). Text is available under the Creative Commons Attribution-ShareAlike 4.0 ...
Assuranceforeningen Gard, the P&I Club, was founded in Arendal, Norway in 1907. Historically, Arendal was an important shipping centre at that time, but the establishment of Gard was also driven by the reluctance of owners of sailing ships to subsidise the liabilities arising from owners operating steam ships.
A shipowner, ship owner or ship-owner is the owner of a ship.They can be merchant vessels involved in the shipping industry or non commercially owned. In the commercial sense of the term, a shipowner is someone who equips and exploits a ship, usually for delivering cargo at a certain freight rate, either as a per freight rate (given price for the transport of a certain cargo between two given ...
I am wondering whether I can add China Shipowners Mutual Assurance Association(CPI) into the P&I club section. My reasons are as follows: 1. CPI is the only P&I club developed in developing countries. 2. China's role in shipping industry is no inferior to western countries. 3. China's P&I club also has a significant contribution to global P&I ...