Class 1 (Chief Engineer) Engineering Management 📅 Apr 2025

Exam Question

(a) What are P&I clubs? Describe how P&I clubs collect fund from ship-owners. (5)

(b) What are the risks that are covered under the term "protection" and "indemnity"? (5)

Reference Answer

### (a) P&I Clubs and Fund Collection
#### 1. Definition and Purpose of P&I Clubs
A Protection and Indemnity (P&I) Club is a non-governmental, non-profit, mutual insurance cooperative. Its members, who are typically shipowners, operators, and charterers, pool their resources and risks to obtain insurance coverage against third-party liabilities arising from the operation of their vessels. This coverage is for risks that are not typically covered under standard Hull & Machinery (H&M) or Cargo insurance policies.
The name reflects its dual purpose:

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