P&I (Protection and Indemnity) Clubs

Protection and Indemnity (P&I) Clubs are mutual insurance organizations that provide liability coverage for shipowners and operators. They protect against risks that standard marine insurance may not cover, such as damage to cargo, environmental pollution, injuries to crew, and claims from third parties. Members pay contributions to the club, which pools funds to cover potential liabilities. P&I Clubs offer support, guidance on regulations, and legal assistance, promoting safety and compliance in the shipping industry. Essentially, they help manage risks associated with maritime operations, ensuring that members are financially protected against unforeseen incidents at sea.