1. P&I AND MARINE INSURANCE
ANATOMY OF SHIPPING
P&I AND MARINE INSURANCE
AIZOL MUZZAMIL BIN AB WAHAB
KAMIL BIN ASARI
NUR AMIRUL FARHAN BIN AZMAN
NUR FARAHIN BINTI MANSOR

2. P&I INSURANCE Known as protection and indemnity insurance
Form of marine insurance
Provide by P&I Club
Cover the ship-owners, operators, and charterers for third-party liabilities

3. RELATIONSHIP WITH MARINE INSURANCE
Marine insurers offer insurance on measurable risks: hull and machinery insurance for ship owner, and cargo insurance for cargo owners. P&I clubs provide insurance for broader, indeterminate risks that marine insurers usually do not cover, such as third party risks. These risks include: a carrier’s liability to a cargo-owner for damage to cargo, a ship owner’s liability after a collision, environmental pollution and P&I war risk insurance, or legal liability

4. P&I CLUB Roles: Manage claims Act as central point of contact
Appoint experts, lawyers and correspondents
24 hour emergency response
Pay claims and fees incurred
Advise on safety and loss prevention

5. CLASSES OF P&I INSURANCE
Class I - Protection & Indemnity (P&I): 
This is general liability insurance, which would cover ship owners' liability for main exposures they may face in today's shipping, including : - Cargo - Crew - Passenger (and other persons carried on board) liability - Stowaways and refugees - Collision and contact with fixed or floating objects - Pollution - Wreck removal - Fines - Quarantine

6. CLASSES OF P&I INSURANCE
Class II - Freight, Demurrage & Defence (FD&D):
This insurance is covering ship owners' reasonable costs for necessary legal assistance in relation to disputes, which are directly connected with the operation of the insured vessel.
To make things simple P&I insurance providers could be divided in two categories: - Mutual clubs - Fixed price facilities

7. THE MAIN RISKS COVERED
The main risks covered are liabilities , expenses and cost for:
Lost of life, injury, illness
Cargo loss, shortage or damaged
Collision
Pollution
Fines and penalties

8. MARINE INSURANCE
Coverage against loss or damage to a ship and in-transit cargo loss or damage over waterways, land, and air
Include Onshore and Offshore exposed property
Cargo insurance is sub-branch of marine insurance

9. CARGO INSURANCE To cover goods in transit
A loss is recoverable by an insured who at the time of loss has an insurable interest in the goods
The insurable interest or obligation to take out insurance