twicer ® 05-Dec-2021 01:01

An Introduction to P&I Insurance and Loss Prevention

Year: 2018
Language: english
Author: North P&I Club
Genre: -
Publisher: North P&I Club
Edition: 3rd
ISBN: 9780995565326
Format: PDF
Quality: eBook
Pages count: 226
Description: This publication provides a comprehensive introduction to marine liability insurance. It focuses on the services provided by members of the International Group of P&I Clubs, which mutually insure over 90% of the world’s oceangoing tonnage. It also introduces key international conventions and regulations governing international shipping, as well as the topic of maritime loss prevention.
This publication introduces readers to P&I Club representation, detailing requirements for hull and machinery (H&M) and protection and indemnity (P&I) insurance. P&I underwriting is also examined through subjects such as obtaining income from premiums. The book is supported by extracts from the ISM Code, outlining the safety requirements shipping companies should endeavour to meet. Detail is given on risks excluded from P&I insurance, such as loss of hire and war. It is a key reference book for North’s long established educational courses on the topic of marine insurance.
Ships’ Masters, officers and those working within the shipping industry will be aware that unforeseen incidents can and do occur. Fortunately, most of these incidents are minor and do not result in significant repercussions or a claim against the ship. However, sometimes incidents can be more serious and it is for the liabilities arising from these incidents that marine insurance, including protection and indemnity (P&I) insurance, is provided.
This publication examines the development of marine insurance leading to the formation of P&I Clubs. It gives an overview of P&I Clubs, including how they work with correspondents to provide a worldwide service. It also looks at the role of the International Group of P&I Clubs (also referred to as the International Group or ‘IG’). It is important to understand the insurance requirements of a ship operator and how P&I Clubs provide an important component of that insurance.
The shipowner may also have additional requirements for which other insurance cover is available, including freight, demurrage and defence (FD&D) insurance, war risks insurance and strike insurance. All of these will be detailed throughout the course of the publication.



An Introduction to PI Insurance and Loss Prevention 3Ed 2018.pdf


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