CoboCards App FAQ & Wishes Feedback
Language: English Language
Sign up for free  Login

This flashcard is just one of a free flashcard set. See all flashcards!

All main topics / Naval Architecture / Marine Transport and Economics / 16 Shipping Abbreviations
Protection and Indemnity
Protection and indemnity insurance, commonly known as P&I, is marine insurance against third party liabilities and expenses arising from owning ships or operating ships as principals. It is distinct from other forms of marine insurance purchased by shipowners such as hull insurance and war risk insurance.

More than 90% of oceangoing ships today are insured by the mutual P&I Clubs that are members of the International Group of P&I Clubs[2]. These organizations are the successors of the associations founded in the 19th and early 20th centuries. The 13 P&I clubs are mainly situated in the U.K. but also in USA, Japan, Sweden and Norway. The Clubs vary considerably in size and currently the largest club is the Norwegian based Gard[3]. P&I Club coverage is generally as broad as the liabilities faced by a shipowner qua shipowner
New comment
Flashcard info:
Author: andersson.j
Main topic: Naval Architecture
Topic: Marine Transport and Economics
School / Univ.: Chalmers
City: Gothenburg
Published: 15.10.2009




Forgot password?
Deutsch  English