Beyond the liability of damage to third parties due to – for example – a collision, a skipper also runs the risk of being deemed responsible for the operations of the boat. P&I stands for Protection and Indemnity. Protection focuses on the protection against the liability of the owner of the boat, whereas Indemnity zooms in on liabilities such as bodily-injury, or property-damage arising out the use of the vessel.
Technically, a P&I Insurance is a special type of liability insurance. The policy covers all occurrences that are normally not covered or insufficiently covered under a liability insurance.
The insurance covers liability as a result of (not limited to):
- Loss of life, injury and sickness of all crew, passengers and all third parties on board
- Loss of or damage to the cargo on board
- Environmental pollution (due to oil)
- Wreck removal costs
- (Excess) collision with other ships and damage to piers, docks, jetties and other fixed and floating objects
- Towage
- Property on board
We can cover all abovementioned elements as per your demands.
Contact us directly so we can analyse whether a P&I package is applicable to your situation.