Regarding P&I, we have access to all the groups of International Clubs and to most "agreed" P&I facilities.
P&I provides cover to shipowners for third-party liabilities such as loss of life, injury and illness of crew, passengers and other persons, or cargo loss, shortage or damage, collision, pollution, wreck removal, etc.
These reinsurers also provide coverage for "Special Operations", e.g. offshore supply vessels. Coverage for freight/cargo is also provided, and defense expenses coverage provides insurance coverage for shipowners when legal expenses are incurred in defending against an action brought by a third party.
The information required for the insurance proposal form is usually the following:
- Insured´s Name.
- Complete information on the line of business, detailing their market position, experience, etc.
- Vessel details including age, materials and insured sum.
- Required zones of coverage.
- Breakdown of the Loss rate for the last 5 years.
- Number of members of the crews and their nationality.
- Details of the goods transported.