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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.
The club is responsible for the Protection and Indemnity (third party) liabilities insurance coverage for the container ship Ever Given that grounded and blocked the Suez Canal in 2021. [11] [12] The club was responsible for reaching an agreement regarding costs with the Suez Canal Authority to allow the vessel to sail in June 2021. [4] [13]
Protection and indemnity insurance; G. ... UK P&I Club This page was last edited on 12 July 2018, at 17:02 (UTC). Text is available under the Creative Commons ...
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.
The NorthStandard P&I Association or Club is a marine mutual liability insurer in the United Kingdom. In May 2022, it was announced that the North of England P&I Association would merge with the Standard Steamship Owners Protection & Indemnity Association (the Standard Club). [1] The merger took place during Q1, 2023. [2]
In the 19th century, shipowners banded together in mutual underwriting clubs known as Protection and Indemnity Clubs (P&I), to insure the remaining one-quarter liability amongst themselves. These Clubs are still in existence today and have become the model for other specialized and noncommercial marine and non-marine mutuals, for example in ...
The P&I ("Protection and Indemnity") insurance provided by Skuld to its members is primarily to cover the liabilities which they incur to third parties arising out of the operation of their ships. The common types of claims which are covered are for death or injury to passengers and crew, oil pollution , cargo loss or damage, collision , wreck ...