P&I Insurance

Commonly known as P&I Insurance, Protection and Indemnity Insurance is a vital insurance that allows a shipowner to trade commercially. The insurance generally covers the full range of third party risks for shipowners and charterers, including people claims, marine casualties, cargo liabilities, pollution and wreck removals. The 13 International Group of P&I Clubs, of which North is a leading member, provide P&I cover for approximately 90% of the world’s ocean-going tonnage.

P&I insurance protects you from a huge variety of risks, whether you’re a shipowner or a charterer, but  each policy is subject to exclusions and conditions. North’s policy covers loss of life, injury and illness of crewmembers, passengers and other third parties, repatriation and quarantine expenses, liabilities arising from cargo in your care, pollution cleanup and compensation, admiralty liabilities including collisions, towage, grounding and wreck removal, and damage to fixed or floating objects and other property. Our expertise and market leading service is available to you worldwide.

P&I insurance acts as a ticket to trade, without it vessels cannot trade commercially. It’s also vitally important to stay protected against any incidents that may occur while transporting cargo.  P&I insurance cover offers protection, to shipowners who may risk significant financial loss as a result of an accident, damage to the environment, cargo or the vessel itself. Seafarers can also be at risk while on board a vessel, through illness, injury or even death. P&I insurance provides compensation, through insurance cover, to seafarers and their families during these difficult times.  North’s global P&I team consists of over 90 claims professionals, 24 lawyers and 12 mariners. Our highly qualified and experienced staff will be at hand to provide focused assistance and direct you to the right insurance for your business.

P&I insurance is mandatory for all shipowners who use their vessel for commercial or transportation purposes and when carrying passengers, workers, or cargo across international waters. In order to enter into ports worldwide, the master is required to provide a ‘certificate of entry’, issued by the shipowners’ respective P&I Club,  proving their insurance to the relevant port authorities.