P&I (Protection & Indemnity) Insurance
Category: insurance
A mutual marine insurance policy covering third-party liabilities for vessel owners and operators.
P&I is the liability insurance of the shipping world. It covers crew injuries, collision damage to docks or other ships, pollution liability, and wreck removal costs. It is typically provided by specialized, member-owned "P&I Clubs" rather than standard commercial insurance companies.
Common Examples
- The vessel owner filed a claim with their P&I club to cover the legal defense costs following a collision in the shipping lane.
- Protection & Indemnity coverage handles the immense environmental liability risks that come with operating commercial oil tankers.