Insurance P&I

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Given the high stakes and severity of adverse effects in sea or inland water transport, marine insurance is a crucial economic feature that is inextricably linked to all maritime operations and risks. Despite the fact that the issue is managed by professionals, it is vital that all stakeholders - be they charters, ship owners, ship management firms, exporters or importers, Technical or commercial managers, port and terminal operators, and so on are examples of professionals.

Appropriate knowledge of maritime insurance concepts and procedures how it relates to their respective enterprises Beginning with the fundamentals of maritime insurance and progressing toThis course includes a lot of examples and instances from actual experience.Practical instructions for all those involved in marine transportation.

Insurance P&I

Despite recent technologies and scientific advances, maritime safety is far from perfect.

Maritime vessels are vulnerable to unpredictable natural phenomena such as risks of the sea, human mistake, and contemporary events such as terrorism and piracy.

Each of them has the potential to generate a significant loss. As a result, it is only fair to assume that the possibility of disasters in seaborne trade will persist indefinitely.

In addition, the average amount of H&M losses experienced by ship-owners as a result of such accidents tends to rise as the world commerce fleet expands, ship values rise, and repair prices rise.

Shipowners are covered by an H&M coverage against physical loss or damage to the vessel’s hull, machinery, and other equipment. When a shipowner takes out a bank loan, the insurance may be endorsed to the advantage of the ship’s mortgagees.

We will cover loss and damage caused by the Assured up to the sum insured under the H&M policy in respect of the following scope of cover :

The hull, machinery, and other equipment of the vessel ;

Salvage fees and costs ;

Average contribution in general ;

Sue and her labour

Liability percentage for colliding with another vessel (3/4ths or 4/4ths) ;

loss if Hire