P&I insurance is one of the fundamental shipowners’ insurances and covers the legal liability for damages that shipowners / operators are exposed to in connection with the operation of the vessel.
What can be covered?
l Illness, injury and death of crew, passengers and other third parties on board
l Stowaways, deserters and refugees
l Loss of and damage to cargo
l Collision with other ships
l Damage to fixed or floating objects (FFO)
² Damage to Port Facilities
² Damage to Fishery Facilities
² Damage to Buoys
l Oil Pollution
l Wreck removal
l Fines
l General Average (in certain circumstances)
l Salvage (certain aspects such as SCOPIC)
l Costs of investigation and defense
l Sue and labour expenses
The cover scope will subject to the terms and conditions of the IG Clubs/insurers offered.
