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Title Understanding Protection & Indemnity (P&I) Insurance: A Guide for Shipowners and Operators
URL https://firstpolicy.com/understanding-protection-indemnity-pi-insurance-a-guide-for-shipowners-and-operators/
Category Business --> Financial Services
Meta Keywords Protection and Indemnity Insurance
Meta Description Protection and Indemnity Insurance operates as a maritime-specific liability insurance product known by the abbreviation P&I insurance.
Owner First Policy
Description
Marine insurance together with hull insurance covers physical damage to vessels but does not offer sufficient protection for third-party liabilities. Protection and Indemnity Insurance (P&I) stands as an essential coverage which ships maintain for protection. Shipowners and operators rely on specialized P&I insurance to defend themselves from unexpected expenses because this insurance meets their needs concerning liability protection.