Insurance (P&I)

This insurance, usually referred to as “P&I,” provides cover to shipowners, operators, and charterers for third-party liabilities encountered in the commercial operation of entered vessels. The main risks covered are liabilities, expenses, and costs for:

  • Loss of life, injury and illness of crew, passengers and other persons
  • Cargo loss, shortage or damage
  • Collision
  • Damage to docks, buoys and other fixed and floating objects
  • Wreck removal
  • Pollution
  • Fines and penalties
  • Mutiny and misconduct by crew
  • Crew repatriation and substitution
  • Damage to property on board the insured vessel
  • Quarantine
  • Vessel Diversion Expenses
  • Unrecoverable General Average contributions
  • Vessel’s proportion of General Average

P&I cover is designed to complement a vessel’s hull and machinery insurance and related covers. It is distinguished from ordinary marine insurance in that it is based on the not-for-profit principle of mutuality where members of the club are both the insurers and the insureds. As a consequence, the scope of cover offered by P&I insurance is unsurpassed in its reach and cost-effectiveness. Li – Marine is handling insurance matters through it’s partner companies.We provide service to our customers 7/24 for following matters ;

  • Protection and Indemnity Insurance (3rd party liability for shipowners)
  • Freight Defence and Demurrage (legal assistance to shipowners)
  • Time Charterer’s P&I and F.D&D. Liability insurance
  • Certificates of Financial Responsibility (COFR) in respect of Water Pollution Liabilities
  • Cargo in transit Insurance
  • P&I Crew Risks
  • Hull & Machinery Insurance for ocean going vessels
  • Hull Interests, i.e. Increased Value and Freight
  • War & Piracy risks
  • Kidnap and Ransom
  • Loss of Hire
  • Strike Insurance
  • SOL (Shipowners Liability Insurance)
  • Cruise Cancellation insurance (including terrorism)
  • Liability covering Marina Operators, Stevedores Terminal Operators and Port Authorities.
  • Insurance of NVOCC operators, Freight Forwarders, etc.
  • Ships Cash, Concessionaires, Personal Accident Insurance etc.