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.