P&I insurance

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Protection and Indemnity (P&I) insurance has developed over the last 200 years in response to the need amongst shipowners for insurance cover for risks not recoverable under standard hull and machinery policies. A shipowner can incur liabilities towards many different third parties while operating ships. P&I insurance provides this third party liability cover. Nowadays this kind of insurance becomes more and more important and in some cases necessity to get a P&I  Policy becomes compulsory owing to strict requirements of port authorities and growing number of acts on environmental protection passed by governments of different countries.

Ingosstrakh provides P&I insurance both to Russian and foreign Owners, Managers, Operators, Charterers based on traditional international market conditions.  

Subject of Insurance:

lawful property interests of the Insured connected with his liability under the civil law of the Russian Federation or international law to reimburse damage caused to third parties as a result o occurrence of the insured event provided for in the contract of insurance or his liability to bear additional expenses incurred in the course of operation of the ship (ships) stipulated in Ingosstrakh P&I Rules.

Risks covered:

• liability to crew members;
• liability to persons other than seamen;
• liability in respect of cargo carried on the entered ship;
• liability for collision and damage to fixed and floating objects;
• liability for pollution;
• wreck removal;
• sue and labour and legal expenses.

Ingosstrakh provide a set of services which include:

• network of more than 200 correspondents who are always ready to assist our clients almost in all ports of the world;
• measures to release the vessel from arrest;
• arrangement of Certificates of Financial Responsibility (COFRs) for vessels trading to the USA;
• advice on loss prevention;
• Ingosstrakh Policy is accepted by Japanese authorities to call at Japanese territorial waters;
• arrangement of “Blue Cards” in accordance with CLC and Bunker convention’s requirements.

Advantages to the Shipowner are:

• Ingosstrakh is well-known P&I Insurer with more than 35 years’ experience both in Russia and abroad;
• fixed Cost;
• no Supplementary Calls;
• no Release Calls;
• no Mutuality - each fleet rated individually;
• flexibility to expand or limit the scope of coverage against that typically available from the traditional mutual P&I market;
• attachment not on the 20^th of February but all year round;
• first-class reinsurance treaties with limit up to 500 million USD supported by leading London and international reinsurance underwriters.

Claims handling

This is our day-to-day work. Our 35-years experience allows us to deal with different types of claims by nature and amounts of money involved. Our claims assignments generally are centered on solving cargo, collision, pollution, injury claims, stowaway/immigration problems and others falling within the scope of our P&I cover. Within the team our claims handlers have knowledge of maritime law and marine insurance practice. In serious cases we apply for handling to first-class international litigation lawyers, experts, claims handling specialists. 

Our team at Ingosstrakh is maritime lawyers, individuals with commercial experience gained from working in shipping companies, many of the team are graduates.

We enjoy close relationship with the Russian Register of Shipping, a full member of IACS, which also helps to keep us up to date with technical developments. Ingosstrakh represents Russia at technical committees in IUMI.