Protection and Indemnity

Overview - Protection and Indemnity (P&I) insurance is liability coverage for watercraft. It protects the insured from liabilities, from bodily injury, or property damage arising out of the use, or ownership of declared vessels. There are several commonly used protection and indemnity forms and many proprietary forms used for this insurance. Most P&I forms offer payments for loss of life, injury, illness, hospital, and medical expenses.

Download Application
 

Typical Insureds - Marine & Diving contractors who have tugs & barges, ship, yacht and commercial operators of vessels used for business purposes, including bareboat, six-pack, head boats or demise charterers-lessees who take full control of a shipowner's vessel.

What It Covers - The typical P&I policy covers:

• Loss of life, injury and sickness of crew, passengers and third parties, except for liabilities under statutory compensation acts such as USL&H, Jones Act or state Workers' Compensation
• Damage to cargo on board the vessel
• Damage to piers, docks, jetties and other fixed floating objects
• Wreck removal costs
• Collision liability

• Line of business and how the vessel will be used
• Size, age, condition and horsepower of the vessel
• Number of crew, passengers and other parties on board
• Cargo exposure
• Navigation limits
• Claims history