Protection & Indemnity Insurance
You're covered.
For a wide range of third-party liabilities and risks.
Protection and Indemnity (P&I) insurance for superyachts is a specialised form of marine liability insurance designed to cover a wide range of third-party liabilities and risks. Risks that are not typically covered under standard hull and machinery policies.
Protection & Indemnity Insurance.
Key Features.
The following shows the standard key features for our Protection & Indemnity Insurance policies. Yet, at Superyacht Insurance Services, our products and service are anything but standard. We will work with you to design and build a bespoke policy that is uniquely tailored to you and your superyacht.
Third-Party Liability Coverage
Personal Injury and Death
Covers liabilities arising from injury or death of crew members, passengers, and third parties.
Passenger Liability
Coverage for liabilities related to passengers on board, including medical expenses and compensation for injuries.
Environmental Liability
Pollution
Covers liabilities arising from accidental oil spills or other pollutants discharged from the superyacht, including clean-up costs and fines. We also offer bespoke cover for pollution as well.
Wreck Removal
Covers the cost of removing the wreck of the superyacht if it becomes necessary to avoid navigation hazards or environmental damage.
Collision and Property Damage
Damage to Other Vessels
Covers liabilities for damages caused to other vessels in the event of a collision.
Damage to Fixed and Floating Objects
Includes damages to docks, piers, navigation aids, and other maritime structures.
Cargo Liability
Carriage of Goods
Although less common for superyachts, if they carry goods or valuable items, P&I insurance covers liabilities for loss or damage to cargo.
Legal and Defense Costs
Legal Fees
Covers legal costs incurred in defending against claims covered by the policy.
Fines and Penalties
Covers certain fines and penalties imposed by regulatory authorities, subject to policy terms.
Crew-Related Liabilities
Repatriation Costs
Covers the cost of repatriating crew members in the event of illness, injury, or termination of employment.
Substitute Crew
Covers the cost of employing substitute crew members if the regular crew cannot perform their duties.
In conclusion.
Let's talk.
Protection and Indemnity (P&I) insurance is a crucial component of a comprehensive insurance program for superyachts, providing essential coverage for a wide range of third-party liabilities. By securing P&I insurance, superyacht owners can protect themselves from significant financial losses, ensure regulatory compliance, and operate their vessels with greater confidence and peace of mind. If you’d like to arrange cover, please get in touch.
