P&I Club Insurance Coverage in case of Loss or Damage of Cargo
“P&I Club Insurance” (Protection and Indemnity Club Insurance) is a marine insurance which provides cover to shipowners for third-party liabilities encountered in the commercial operation of entered vessels. P&I Club Insurance is designed to complement a vessel’s hull and machinery insurance and related covers. This type of insurance, which is of great importance for the maritime sector, is widely used worldwide as an insurance that provides cover for shipowners. Considering the size of the cover provided under the club insurance, it is clear that club insurance is very important for both the world and our country.
The liabilities related to loss or damage of Cargo in case of P&I Club Insurance are the most frequently encountered circumstances and it is the highest amount figures encountered in the P&I Clubs’ annual reports. Hence, the subject of “P&I Club Insurance Coverage in case of loss or damage of Cargo” is examined in this book. In addition to the responsibility of the member arising from the contract of carriage, it is explained how the scope of the cover is in case of the responsibilities related to Cargo from the collision, general average and salvage.