Marine Hull and Protection & Indemnity (P&I)

Marine Hull and Protection & Indemnity (P&I)

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Can you imagine how big is claim arise from this casualty?
· loss or damage to cargo on board the vessel
· loss or damage to the hull and machinery
· loss of life or bodily injury
· pollution
· salvage sue and labour, removal of wreck
· legal costs
· other losses

Marine Hull & Machinery Insurance

Marine Hull & Machinery Insurance gives comprehensive covers for loss or damage to vessel’s hull and machinery against perils of the seas and navigational perils:


It covers loss or damage caused by:
· perils or seas: heavy weather, grounding, sinking and collision
· fire and explosion
· malicious act and theft
· jettison
· piracy
· contact with aircraft
· earthquake, volcanic eruption, and lightning
· negligence of master & crews
· barratry
· collision liability
· general average and salvage
· sue and labour

Type of covers:
1. Clause 280: All Risks or full navigational perils
2. Clause 284:Total Loss + GA and ¾ Collision Liability
3. Clause 289:Total Loss Only

Protection and Indemnity (P&I)

Over hundred years P&I Club is the only organization provide Protection & Indemnity cover, now, insurance company is able to provide one so called Fixed Premium P&I

Protection and Indemnity (P&I) covers liabilities to third parties………….

-CARGO: damage to, loss or shortage of cargo
-COLLISION: collision with another vessel
-PROPERTY DAMAGE: damage to fixed and floating objects and other property
-CREWS CLAIMS: death or injury, repatriation, medical expenses
-ILLNESS & INJURY: stevedores, passengers, etc
-POLLUTION: oil, other substance, clean-up
-OTHER CLAIMS: wreck removal, fine, GA, etc
-LEGAL COSTS & EXPENSES: cost of legal disputes and expenses


Type of Vessels

All type vessels are insurable under Hull & Machinery (H&M) and/or under Protection & Indemnity (P&I)

- General Cargo Ships
- Container Ships
- Bulk Carriers
- Gas Carriers
- Passenger Ships
- Ferry; Roro
- Heavy Lift
- Tanker
- Tug Boats
- Barges
- Pilot Boat
- Survey & Research Ships
- Fishing Ships
- Towing & Salvage
- Yacht
- Speed Boat
- War Ships
- Etc

Classification Society

It is a requirement under Hull & Machinery (H&M) and/or Protection & Indemnity (P&I) that vessels must be classed and class maintained under approved or International Classification Society

-Bureau Veritas (BV) - Est.1828
-Lloyd’s Register (LR) – 1834
-American Bureau of Shipping (ABS) - 1862

-Det Norske Veritas (DN) - 1864
-Germanischer Lloyd (GL) - 1867
-Nippon Kaiji Kyokai (NK) - 1899
-Russian Maritime Register of Shipping (RS) - 1913
-China Classification Society (CCS) - 1956
-Korean Register (KR) - 1960
-Registro Italiano Navale (RINA) - 1861
-Indian Register of Shipping (IRS) - 1975
-Biro Klasifikasi Indonesia (BKI) - 1964


Rating Factors

Premium for Hull & Machinery (H&M) or under Protection & Indemnity (P&I) are depending on some underwriting factors:

- Type of vessels, age, and gross tonnage (GRT)
- Number of Fleets
- Trading Area or Navigational limit
- Classification Society
- Type of Cover and Limit of Liability
- Management and Ownership
- Insurance and Loss Record


How to Insure?

To have Hull & Machinery (H&M) or under Protection & Indemnity (P&I) are simply write Proposal Form and submit Ship Particular, and Survey (if necessary).

To have a quote and further inquiry

Please call: +628128079130

Or email: imusjab@qbe.co.id

by IMAM MUSJAB at http://www.ahliasuransi.com/


Source:
Institute Time Hull Clauses
http://www.qbe.com/