INTERWORLD INSURANCE GROUP provides a mutual P&I insurance and a fixed premium P&I cover – the third party legal liability insurance for ship owners and operators of commercial vessels.

Details of the risks insured are as follows:

• Illness, injury and death of crew, passengers and other third parties on board
• Stowaways, deserters and refugees
• Collision with other ships
• Damage to property (FFO)
• Pollution
• Wreck removal
• Loss of and damage to cargo
• Fines
• General Average (in certain circumstances)
• Salvage (certain aspects such as SCOPIC)
• Costs incurred in investigating and defending liability
• Costs incurred in inquiries and criminal proceedings
• Sue and labour expenses

We are a team of experienced Underwriters, Claims handlers, Master Mariners and Technical advisors available 24/7 in order to efficiently prevent and/or reduce the consequences from claims and to arrange prompt and settlement thereof.

Key benefits of specialized P&I Insurance:

• Liability Coverage:
  P&I insurance provides broad liability coverage for risks such as damage to cargo, collision, environmental pollution, and personal injury or death of crew, passengers, and third parties.
• Legal and Claims Support:
  It offers support in handling complex maritime claims and legal issues, including the costs of legal representation and expert advice.
• Financial Protection:
  This insurance protects against potentially enormous financial losses arising from maritime incidents, helping to safeguard the financial stability of the insured party.
• Customized Policies:
  P&I insurance can be tailored to meet specific needs and risks associated with different types of vessels and maritime activities.
• Global Network of Assistance:
  global network, providing assistance and support in ports and jurisdictions worldwide, which is critical in handling international maritime incidents.
• War Risks Coverage:
  P&I policies include coverage for war risks, which is essential given the geopolitical risks in certain sea lanes.
• Crew Welfare:
  It often includes coverage for medical expenses, repatriation, and compensation for the crew, which is not only a legal requirement in many cases but also a moral responsibility of shipowners.
• Pollution Liability:
  Given the increasing environmental regulations, P&I insurance offers coverage for pollution liability, a critical aspect for maritime operations.
• Flexible Limits:
  Unlike standard commercial insurance, P&I insurance often offers flexible limits of liability, which can be crucial for large-scale maritime operations.
• Mutual Insurance Option:
  Many P&I clubs operate on a mutual basis, allowing members to have a say in the club's operation and potentially receive returns in years with low claims.

Each of these benefits is designed to address the unique challenges and risks faced in maritime industries, providing comprehensive and tailored protection.