Protection and Indemnity Insurance
Protection and Indemnity insurance is a type of marine liability insurance that provides coverage for shipowners, operators, and charterers.
Here are key aspects of P&I insurance:
Collision Liability
Extends coverage for collision liabilities with other vessels.
Legal Expenses
Includes coverage for legal defense costs in case of lawsuits related to covered liabilities.
Cargo Liabilities
Offers protection for damage to or loss of cargo carried by the insured vessel.
Fines And Penalties
Covers legal fines and penalties resulting from covered liabilities.
Wreck Removal
Provides coverage for the removal of the insured vessel in the event of a wreck or obstruction to navigation.
