Protection and Indemnity Insurance (P&I)

Protection and Indemnity Insurance (P&I) is a specialized type of insurance for shipowners and operators, covering liabilities related to their maritime operations. It protects against claims for injuries to crew, passengers, or third parties, as well as environmental damage, cargo loss, and collision or allision incidents. P&I clubs, mutual associations of shipowners, provide this coverage, pooling resources to handle claims and legal costs. Essentially, it ensures that maritime professionals can operate safely while being safeguarded from potentially substantial financial liabilities arising from accidents or mishaps at sea.