Protec­tion & Indem­nity Insurance

The purpose of Protec­tion and Indem­nity (P&I) insu­rance or marine liabi­lity insu­rance is to protect the poli­cy­holder against third party liabi­lity claims arising from the opera­tion of a marine or inland waterway vessel.

Unlike hull insu­rance, P&I or marine liabi­lity insu­rance responds to damage caused or alle­gedly caused by the poli­cy­holder to third parties.

This includes cargo damage in parti­cular, personal injury to the crew or other persons on board, oil pollu­tion damage, wreck removal, excess liabi­lity for colli­sion damage or stowaways.

The amount of cover required to satisfy third-party claims in the event of a loss can reach up to USD 1 billion. Even if such a loss scenario is diffi­cult to imagine, the insured sums must be based on the inter­na­tional liabi­lity conven­tions as well as the requi­re­ments of the char­te­rers and principals.

Depen­ding on the type of ship and its purpose, there are comple­tely diffe­rent requi­re­ments on insu­rance cover.

In addi­tion to the usual scopes of cover, we also offer special solu­tions, for example for Specia­list Opera­tions in offshore projects, for passenger liabi­lity for passenger ships or other contrac­tually assumed liabilities.

With our own liabi­lity products and our network of specia­lised partner insu­rers, we can respond to all these diffe­rent requi­re­ments with tailor-made insu­rance solu­tions. An inten­sive analysis of the role of the poli­cy­holder and the actual liabi­lity risks is highly important, as is deter­mi­ning which liabi­lity expo­sure is already covered by exis­ting insu­rance poli­cies, inclu­ding hull insu­rance.