P&I

Your insurance against loss and liability to third parties

The standard P&I (Protection and Indemnity) insurance is Skuld's largest line of business. This insurance covers maritime liabilities incurred by the member in direct connection with the operation of the entered vessel. The cover protects our members against losses and liabilities towards third parties.

The insurance is available to shipowners and charterers, including operators. In the event that a member is involved in a dispute with a third party, Skuld will actively protect him, i.e. try to find a solution, and if, ultimately, he is found liable and suffers a loss covered under his policy, Skuld will indemnify him for his costs.

The insurance covers maritime liabilities incurred by the member in direct connection with the operation of the entered vessel and can be provided for all types of vessels such as tankers, bulk carriers, general cargo ships, container carriers, passenger vessels and more specialised vessels.

Skuld’s P&I cover for owners is a mutual insurance. This implies that should the Club face special circumstances with unexpected losses, the owners with such cover are in principle exposed to premium obligations beyond their agreed Estimated Total Call. At the same time the owners’ mutual insurance ensures access to a unique reinsurance arrangement as arranged by the International Group of P&I Clubs. This setup provides the best P&I cover available, at a cost efficient premium.

Skuld’s P&I cover for charterers and operators will in most cases be a fixed premium facility, however mutual cover is also available.  Many charterers will choose to buy a P&I cover that includes Charterer's Liability to Damage to Hull (see Ancillary covers).