Description

An Introduction to P&I Insurance and Loss Prevention (Third Edition): The Definitive Guide to P&I Insurance for Marine Professionals

An Introduction to P&I Insurance and Loss Prevention (Third Edition) is the definitive guide to P&I insurance for marine professionals. It provides a comprehensive overview of P&I insurance, including:

• The history of P&I insurance
• The different types of P&I insurance
• The risks covered by P&I insurance
• The claims process
• The role of P&I clubs
• Loss Prevention

The book is written clearly and concisely, making it easy to understand. It is also supported by ISM Code extracts outlining the safety requirements shipping companies should endeavour to meet.

What you will learn from this eBook:

• Stay up-to-date with the latest P&I insurance regulations
• Gain a comprehensive understanding of the key P&I insurance concepts
• Improve your skills in navigating the P&I insurance market
• Reduce the risk of financial losses
• Prepare for your next voyage with confidence

Why this ebook is essential and  how you can apply the knowledge:

• P&I insurance is a critical part of the maritime industry.
• It provides financial protection for ship owners and operators against the risks of maritime accidents and incidents.
• The P&I market is complex and constantly changing.
• This book comprehensively overviews the latest P&I insurance regulations, including the most recent amendments.
• The book is written clearly and concisely, making it easy to understand.
• The book includes case studies of real-life P&I insurance cases, which can help marine professionals learn from the mistakes of others.
• This book is an essential resource for all marine professionals who must stay updated with the latest P&I insurance regulations.

Contents listing:

Chapter 1 Introduction to P&I Clubs
1.1 Ship Operators’ Insurance Requirements
1.2 History of Marine Insurance
1.3 Mutual P&I Clubs Today
1.4 International Group of P&I Clubs
1.5 Insurance Not Provided by International Group P&I Clubs
1.6 Advantages of Mutual P&I Clubs
1.7 P&I Correspondents
1.8 Summary

Chapter 2 P&I Underwriting
2.1 Premium Income
2.2 Types of Premium
2.3 Policy Year
2.4 Loss Ratio
2.5 Abatement
2.6 Reinsurance
2.7 Reserves
2.8 Entering Ships in a P&I Club
2.9 Summary

Chapter 3 P&I and Loss Prevention
3.1 Need for Loss Prevention
3.2 Reactive Approach to Loss Prevention
3.3 Proactive Approach to Loss Prevention
3.4 P&I Clubs and Loss Prevention
3.5 Summary

Chapter 4 P&I Principles and Rules
4.1 Underlying Principles of P&I
4.2 General Rules Governing P&I Insurance
4.3 Major categories of risk covered by P&I
4.4 Summary

Chapter 5 P&I Insurance for People
5.1 International Health and Safety Legislation
5.2 Domestic Health and Safety Legislation
5.3 Personal Injury and Illness
5.4 P&I Cover for Ship’s Crew
5.5 P&I Cover for Supernumeraries
5.6 P&I Cover for Passengers
5.7 P&I Cover for Third Parties
5.8 Loss Prevention for Crew, Passengers and Third Parties
5.9 Stowaways
5.10 Persons in Distress
5.11 P&I Cover for Stowaways and Persons in Distress
5.12 Loss Prevention for Stowaways and Persons in Distress
5.13 Diversion and Deviation
5.14 P&I Cover for Diversion and Deviation
5.15 Loss Prevention for Diversion and Deviation
5.16 Summary

Chapter 6 P&I Insurance for Cargo
6.1 International Trade
6.2 International Conventions Relating to the Carriage of Goods at Sea
6.3 Charterparties and Chartering
6.4 Charterparty Forms
6.5 Relationship Between the charterparty and Bill of Lading
6.6 Time Charterparties
6.7 Voyage Charterparties
6.8 Charterparty Problems
6.9 P&I Cover for Cargo
6.10 Loss Prevention for Cargo
6.11 Summary

Chapter 7 P&I Insurance for Ships
7.1 Collisions
7.2 Insurance Cover for Collisions
7.3 Loss Prevention for Collisions
7.4 General Average and Salvage
7.5 Insurance Cover for General Average and Salvage
7.6 Damage to Third-Party Property
7.7 P&I Cover for Damage to Third-Party Property
7.8 Loss Prevention for Damage to Third-Party Property
7.9 Wreck Removal
7.10 P&I Cover for Wreck Removal
7.11 Towage
7.12 P&I Cover for Towage
7.13 Pollution
7.14 P&I Cover for Pollution
7.15 Loss Prevention for Pollution
7.16 Summary

Chapter 8 Other P&I Risks, Exclusions and Discretionary Cover
8.1 Other Risks and Liabilities Covered by P&I
8.2 Exclusions and Risks not Covered by P&I
8.3 Discretionary Nature of P&I Insurance
8.4 Summary

Chapter 9 P&I Claims Handling
9.1 Advising of the Incident
9.2 Visitors to the Vessel
9.3 Responding to the Incident
9.4 Appointing Experts
9.5 Establishing Contact
9.6 Risk of Arrest
9.7 Evaluating Evidence
9.8 Submission of Claim Documents
9.9 Settlement Negotiations
9.10 Possible Indemnity Claims
9.11 Choice of Jurisdiction and Law
9.12 Arbitration
9.13 Mediation
9.14 Early Intervention
9.15 Interaction of P&I and H&M Insurers
9.16 Claims Handling Following Personal Injury Incidents
9.17 Claims Handling Following Collisions
9.18 Summary

Chapter 10 Other Types of Marine Insurance
10.1 Hull and Machinery Insurance
10.2 Increased Value Insurance
10.3 Freight, Demurrage and Defence Insurance
10.4 War Risks Insurance
10.5 Summary