P&I cover

P&I cover, or Protection & Indemnity insurance, is a specialized type of maritime insurance that protects ship owners from liabilities and expenses arising from their ship’s operations. This includes things like damage to other vessels or property, injury or death of crew or third parties, pollution, and legal claims. Essentially, it covers the costs associated with incidents beyond physical damage to the ship itself, ensuring owners are financially protected against liabilities that could be substantial and unpredictable. P&I is vital for ensuring ships can operate safely and responsibly without exposing owners to catastrophic financial risks.