P&I insurance claims

P&I (Protection & Indemnity) insurance provides coverage for shipowners against liabilities and expenses arising from their vessel operations. This includes health and accident claims for crew, environmental damage such as oil spills, collision liabilities, and legal costs. It acts as an all-risk protection, ensuring that owners are financially protected from unforeseen events that can cause damage, injury, or legal disputes related to their ships. Essentially, P&I insurance helps manage the financial risks associated with owning and operating ships, promoting safer and more responsible maritime activities.