Protection and Indemnity (P&I) Insurance

Protection and Indemnity (P&I) Insurance is specialized coverage for shipowners and operators that protects against liabilities and costs arising from maritime risks. This includes events like collisions, oil spills, injuries to crew, cargo damage, and environmental claims. P&I insurance helps cover legal expenses, compensation, and repairs, ensuring that owners can manage unforeseen maritime incidents financially. It is typically provided by mutual clubs where members share risks, making it a crucial safeguard in the shipping industry.