At Coverforce, we have access to the Global Protection and Indemnity Insurance Market, including the International Group of Protection and Indemnity clubs – the premier P&I insurers in the world.
Protection and Indemnity Insurance (commonly known as P&I cover or P&I membership) safeguards commercial vessel owners and operators against third-party liabilities. This includes coverage for cargo risks, third-party personal injury, pollution liability, and collisions, ensuring comprehensive protection for those in the marine industry.
What does Protection and Indemnity Insurance cover?
Public and Products Liability Insurance typically excludes liability arising from the use or navigation of watercraft. Protection and Indemnity (P&I) Insurance fills this gap, ensuring you have the necessary cover for risks associated with operating a commercial vessel.
A typical Protection and Indemnity Insurance policy may provide cover for:
- Injury to crew where not covered by Workers Compensation or Seafarers Liability
- Deviation expenses incurred during necessary route changes
- Legal Assistance and Defence Costs (not commonly included, but considered to be a necessity for Commercial operators).
Where required, Coverforce can also negotiate ‘Specialist Operations Coverage’, for those vessel operators involved in works such as navigational marker maintenance, seabed/seafloor works and subsea pipe laying.
Do I need Protection and Indemnity Insurance?
Every major Australian port requires commercial vessel owners and operators to maintain Protection and Indemnity (P&I) Insurance to operate within port limits. This type of marine insurance is essential for covering liabilities arising from the operation of your vessel, including damage to third-party property, environmental risks such as pollution, and crew or passenger injuries.
Without adequate P&I coverage, vessel owners may face legal and financial challenges that could impact their operations and compliance with maritime regulations.
Request a QuoteHow Coverforce can help
Our marine specialist insurance brokers can assist you with personalised risk advice and the placement of a reliable Protection and Indemnity Insurance policy at competitive rates.
For more information or to arrange cover, please contact our specialised team at our Coverforce Office.
Alternatively, you can simply fill out a Protection and Indemnity Quote Form below and one of our insurance brokers will get in touch with you within one business day.
Request a Quote
