Related Articles
History of the P&I market
Mutual Societies The P&I Market started in the mid 19th century with the evolution of Mutual Societies who covered liability risks. These risks could not be covered within the commercial market at the time, i.e. Lloyd’s, as it often involved exclusion to all risk policies that existed at the time i.e. cargo, pollution, fines, crew […]
Insurances for Charterers
The difference between P&I insurance and Hull and machinery Protection and Indemnity is a type of Insurance that protects Owners and Charterers from Liability from their shipping operations. It differs from Hull and Cargo Insurance because these types of insurance cover a physical asset such as the hull and machinery of a vessel the cargo […]
How Charterers are exposed to financial losses
As well as indemnity claims for damage to hull, cargo, pollution, personal injury, wreck removal and various P&I Risks that a charterer faces under charterparties such as NYPE incorporating the Interclub agreement, Gencon, Asbatime, Shellvoy, Shelltime, Asbatankvoy, Bezai, Fertivoy etc; a charterer is exposed to the risk of financial loss through their shipping operations. Frequent […]