P&I

Question 1

What is P&I insurance?

Answer 1

Protection and Indemnity insurance, is a form of Marine insurance provided by a P&I club.
P&I Club is a mutual insurance association that provides Third Party Liability cover for its members. Unlike a marine insurance company which is answerable to its share holders a P&I club is only answerable to its members.

Question 2

What items does P&I Insurance cover for?

Answer 2

Damage to docks, piers, jetty’s, buoys and cables.
Four / Fourths of Collision Liability not covered under the Hull and Machinery.
Damage to another Vessel or Property.
Costs of raising, removing or destroying the Wreck of the “Entered Ship”
Stowaways, Deserters and Refugees.
Ships portion of General Average and Salvage claim.
Cargo Portion of General Average.
Charter Party Claims against the owner.

Hospital, Medical, Funeral and Repatriation Expenses for sick or injured crew. (Required under MLC Certificate of Financial Security)
Repatriation and abandonment of seafarers (Covered under MLC Certificate of Financial Security)
Oil escaping from the ship causing damage. (Covered under BUNKER Cert)
Above Listed in Purple are separate Certs Issued by the P&I club to covered Financial Security for those specific claims.

Question 3

How would you know you’re covered under P&I insurance?

Answer 3

Certificate of Entry.

Question 4

What other certs relate to P&I?

Answer 4

Certificate of Financial Security
For Repatriation for of Seafarers.
Personnel Injury
BOPIC (Bunker Oil Pollution Insurance Cert) (Ships 1000GT+) - comes from the BUNKER Convention. (to ensure compensation will be paid to coastal state.