Protection and Indemnity (P&I) Clubs insure shipowners and managers for their liabilities to third parties arising out of the operation of ships. The P&I Club does not insure the hull or machinery of a ship, only liabilities. The main elements of P&I cover addressed in
BASIC PRINCIPLES a) Legal dispute is an inherent risk in shipping business. b) Availability of evidence is essential in settling any dispute. c) If good, clear and methodical records and documents are produced, following advantages will accrue : Disputes and claims will be resolved quickly.