P&I or Shipowner’s liability insurance is a form of marine insurance which protects shipowners, ship-operators and charterers of ships against third party claims for indemnity (third party liabilities attributable to operation of a ship).
AMT Insurance provides P&I cover for both domestic and foreign small and mid-sized shipping companies and other shipping-related businesses.
Typical scope of cover under P&I policy
Personal injury to or illness or loss of life of crew members, passengers and third parties;
Loss or damage to property including: other ships, cargoes, fixed and floating objects of ports’ and waterways’ infrastructure;
Pollution of environment caused by oil spills or contamination by other polluting substances from the insured ship.
Risks covered under the standard cover
Liability of shipowner i.r.o. loss of or damage to cargo or personal effects carried on board the ship;
Towage contract liabilities which a shipowner may incur in respect of the towed object, and also to passengers and others persons carried on it;
Liability i.r.o. loss or damage to other ships and/or cargo thereon, shore and offshore structures etc. as a result of collision;
Liability i.r.o. pollution caused directly or indirectly by the insured ship;
Wreck liabilities which shipowner may incur in respect of the removal, destruction, lighting or marking of the wreck of the ship;
Liability i.r.o. crew members in the event of death, injury or illness;
Liability i.r.o. personal injury to or loss of life of persons other than seamen.
It should be noted that P&I cover i.r.o. personal injury to or illness or loss of life of crew members is regulated by Articles 58-60 of Russian Maritime Code: “Repatriation of the vessel’s crew members”, “Personal effects of a vessel’s crew members” and “Duties of shipowner”, respectively.We issue
“Blue Cards” on request of the Assured as an evidence of insurance coverage in place as per the requirements of International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001.
“Certificate of insurance” which is a must-be requirement for vessels calling at any Japanese port under “the Law on Liability for Oil Pollution Damage” issued by AMT Insurance is approved by Ministry of Land, Infrastructure and Transport of Japan (MLIT).
Period of cover
The standard cover normally runs for a period of 12 months and is to be renewed thereafter. Cover for one particular voyage is also given.
Limit of liabilityTo be agreed for indemnification of the Assured for damages with regard to any one accident or occurrence in relation to the insured vessel. The Assured may opt for several different limits which apply for different risks. All limits of liability are due to be set out in the policy.
Premium Is calculated individually. It depends on the limit purchased by the Assured, deductible amount, vessel’s specification, type, trading pattern, loss record etc. Normally payable quarterly.
Our advantagesSince we are a specialty company with the main focus in MAT segment we appreciate and understand features and patterns of our customers’ business. We differentiate by clear understanding of clients’ expectations of transparent and effective services and do our best to satisfy them. We have diligently worked on such items of our products like:
arrangement of first class reinsurance protection with limit up to US$ 50,000,000 supported by Lloyd’s Syndicates, Hannover Re and few other companies of international specialty insurance and reinsurance market;
putting together of a network of professional and effective P&I correspondents in the main ports all over the world;
arrangements of cooperation with friendly fixed-rate P&I facilities for the case to unite our capacities when a high limit policy is required by our customer.
to get indication / quotation
from our underwriters please contact one of our regional offices or send your inquiry to appropriate Underwriter (see page “contacts”). Additionally you may fill in Application for P&I insurance.
Please provide complete information and be as accurate as possible.
Fill in and send the application to AMT via:
- Sergey Merzlov
- Sergey Merzlov
- fax: + 7 495 637 6649