The Shipowners' Protection Society

The Shipowners' Protection Society (SPS) is a mutual insurance organization that provides protection and indemnity (P&I) insurance for shipowners and operators. Essentially, it helps manage risks and liabilities associated with maritime activities, such as accidents, damage to cargo, and environmental incidents. Members pay contributions to the society, and in return, they receive financial support in case of claims. Established in 1855, SPS promotes safe and responsible shipping practices while offering services like legal advice and assistance with maritime regulations, ensuring that members are well-protected and informed in their operations at sea.