It is a legal guarantee against third party claims against ship owners and other related parties
( Third party ).
The benefits provided by P&I products are as follows:
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- Cargo Liability: Legal guarantee against damage to cargo
- Crew Liability: Legal guarantee against injury and death of Ship Crew/ABK
- Colision Liability: Legal guarantee against the risk of ship v ship collisions
- Other Liability: Legal guarantees for other things such as environmental damage due to pollution, costs for shipwreck salvage (Wreck Removal)