P&I insurance covers Members' legal and contractual liabilities in relation to third parties that are incurred during the operation of the entered ship. These legal and contractual liabilities are of various nature and could concern people, cargo, pollution as well as other types of liabilities.
P&I insurance developed as an offspring from the mutual Hull Clubs during the second half of the 19th Century. The hull cover available on the market left the shipowner exposed to a portion of the liabilities that arose in the case of a collision. To provide cover for these and other liability risks, ship owners used existing Hull Clubs or formed new Clubs based on the concept of mutuality. By extending the scope of the liabilities covered, the first P&I Clubs were born.
Professional and practical hands-on approach
Having handled complicated P&I matters for more than a century, The Swedish Club has gained experience about large casualty coordination. The Club and its staff are well known in the market for a professional, yet practical hands-on approach concerning claims handling and for having a close relationship with its members.
Member of the International Group
The Swedish Club is a member of the International Group of P&I Clubs and offers full mutual P&I cover on a Group basis. An entry for P&I is subject to a full risk assessment process including meetings with Owners/Managers to ensure the correct cover is provided.
Premiums for P&I follow the mutual system of advance calls and supplementary calls. The Club's strategy is to minimize the risk for supplementary calls to allow Members to budget their future costs for P&I cover.
Our P&I rules
P&I insurance is available to Owners as well as Charterers. If Members require additional cover that is not included under the standard P&I insurance, the Club offers a wide range of additional and tailor-made cover as complements to the basic P&I insurance. For more information please contact the Underwriting Department.