What does P&I Club cover?
What P&I insurance covers? Personal injury, Illness and death claims from the crew, passenger, etc.
What do P&I clubs do?
A P&I club is a mutual insurance association that provides risk pooling, information and representation for its members. Unlike a marine insurance company, which reports to its shareholders, a P&I club reports only to its members.
How many P&I clubs are there?
13 P&I clubs
Currently, the IG consists of 13 P&I clubs who between them provide marine liability cover (protection and indemnity) for approximately 90% of the world’s ocean-going tonnage..
What is the meaning of P&I?
Protection and Indemnity insurance
Protection and Indemnity insurance, or as it is more commonly known – ‘P&I’, is the policy ship owners purchase to protect them against liability claims from crew, passengers and third parties. Liability claims include those such as collision, property damage, pollution, environmental damage and removal of wrecks.
What does P&I stand for in insurance?
Definition. Protection and Indemnity (P&I) Insurance — liability insurance for practically all maritime liability risks associated with the operation of a vessel, other than that covered under a workers compensation policy and under the collision clause in a hull policy.
Are P&I Clubs regulated?
There are 13 major global P&I clubs, of which six are regulated in Britain and are estimated to account for over half the total market share of an industry that insures about 90 per cent of the world’s ocean-going tonnage.
What is Gard in shipping?
Gard is a shipowner-controlled provider of P&I, marine and energy insurance products. For over 100 years, we have focussed on providing the maritime industries with insurance products that offer financial protection and practical assistance when disaster strikes.
What is Gard No?
www.gard.no. Gard is a global operator within marine insurance and is the largest Protection & Indemnity insurer among the thirteen members of the International Group of P&I Clubs. The company ranks second in the marine insurance industry behind Allianz.
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