Protection and Indemnity (P&I)

Our dedicated P&I team supports ship owners and operators with insights into the world of P&I insurance. We help our clients develop strategies that effectively control purchase costs of P&I, freight, demurrage, and defense (FD&D), and related products. Through our experienced team of P&I specialists and our strong focus on data and analytics tools, we help you navigate the P&I market.

What sets us apart?

The strength and depth of our highly experienced team and the personal service we provide our clients.

Our proprietary data and analytics tools provide you with analysis and insight on your P&I policy. The following tools are available for free to clients.

• P&I rating engine: Provides an independent, fully modelled indication of a “fair” P&I premium for most types of P&I business that is arrived at by assessing realistic claims reserves and allocations to abatement costs. This enables us to challenge clubs’ pricing models and negotiate premiums harder for our clients.
• MarineSight P&I rate benchmarking: Allows you to compare yourself to the wider market.
  
• Loss record and retention versus risk transfer analysis tools: Provides deeper insight into how you perform against the market and how different retention structures will affect your premiums.

Our thought leadership helps you stay ahead of risks and competitors. We regularly deliver analyses of critical issues facing ship owners and operators and insights into the technical challenges of P&I insurance.

Our highly experienced P&I specialists work hand-in-hand with our marine claims advocacy team to assist you as required, especially with large, complex or contentious claims, including those falling into the “grey areas” of P&I coverage.

Protection & Indemnity Market Bulletin: October 2022

As Protection & Indemnity (P&I) club boards meet in preparation for the 2023 renewal season, most clubs will announce a general increase to be applied to all members regardless of performance. Marsh does not advocate for general increases, other than as a remedy for imperilled capital strength, which is not an issue for P&I clubs overall. Most clubs do not share our view.

How do P&I clubs determine the requirements for, and extent of, a general increase?

Each club will have a slightly different approach to how it makes its call decisions, but the major factors taken into account and the overall process will be similar.

The P&I Market Bulletin offers insight into the roles of P&I club managers and their boards, as well as their decision-making process, and factors taken into account when setting policy rates.