P&I and FD&D Insurance
At AMIR we are pleased to have on board Jan Katkjaer, a specialised consultant.
For 30 years, Jan worked for a P&I Club as a claims handler, in underwriting and in management, whereafter he worked for a broking firm for 3 years, before he established himself as an Independent Marine Insurance Consultant based in Kiama, Australia.
Jan is guiding and assisting shipowners and charterers on their Marine Insurances such as P&I, FD&D, Hull & Machinery, War, Loss of Hire, bunkers, etc.
His role is guiding and assisting this clients to obtain the right and appropriate insurances for their operations, as well as guiding them on claims and contractual issues.
Jan would be pleased to hear from you if you have enquiries for Marine Insurances.
Protection and Indemnity Insurance is usually labelled liability insurance for shipowners and charterers, as the insurance covers most of the liabilities a shipowner or charterer can envisage in their operation of a commercial vessel.
The Insurance covers liability for personal injury and death of crew, passengers, stevedores and third parties. Also liability to third party property, including cargo, vessels, cranes and the like falls under this Insurance.
Oil pollution, damage to the environment and clean up as well as fines are covered under the P&I Insurance.
Shipowners and Charterers can hardly operate without this insurance, as it issues Certificates and Guarantees required by many authorities.
Very special to shipping is the FD&D Insurance (Freight, Dead-freight and Demurrage Insurance).
This insurance is unique as it gives cover for the costs of legal disputes that originates from the shipping operation.
Such disputes can be in relation to Charter Parties, where for instance the shipowner and the charterer is disagreeing on the vessel's speed and consumption, loading capability or if the vessel is delivered too late or is spending too much time loading or discharging.
It can also be disputes with suppliers to the vessel, such as supply of bunkers or provisions.
The insurance will cover legal costs of a dispute such as lawyers fees, court fees and arbitration costs, however the principal sum in dispute is not covered by the insurance.
FD&D Insurance is usually only available in conjunction with a P&I Insurance.