Protection and Indemnity Club (P&I Club)

A Protection and Indemnity (P&I) Club is a mutual insurance organization for ship owners and operators. It provides coverage for liabilities and expenses that may arise from owning and operating ships, such as damage to other vessels, injuries to crew or third parties, pollution, and cargo loss. Members pay premiums into the club, which then pools resources to cover large or unexpected claims. P&I Clubs also offer legal support and risk management advice, helping members manage maritime risks effectively. Essentially, they act as a safety net, sharing risks and reducing financial vulnerability for shipping companies.