Offshore Bulletin, October 2017
News & Insights 15 October 2017
This guide is intended to be used as a single point of reference to aid members to fully understand the terms and issues raised in our contract reviews.
As part of our service to members, the club provides individual contract reviews. Our reviews clarify how the member’s P&I cover responds to liabilities under the contract or highlight where terms are particularly onerous and, as a consequence, special terms need to be applied in order to provide cover. They also identify where there are exposures that fall outside of cover.
This guide is intended to be used as a single point of reference to aid members to fully understand the terms and issues raised in our reviews. It provides a guide to:
- the main features of P&I cover
- common provisions and exposures assumed under contract
- exclusions from poolable P&I cover based on: type of contract; (b) type of operation; and (c) type of ship.
It will also address the P&I solutions that the club can provide. We trust this guide will prove useful to insurance practitioners and also to those who are not so familiar with the details of P&I insurance.