Μπαλοδήμας, Χαρίλαος
Καζνεσιώτης, Γεώργιος
Kavussanos, Emmanuel G.
Moutos, Thomas
Athens University of Economics and Business, Department of Accounting and Finance
A P& I club is a mutual insurance group that offers its members risk pooling, information, and representation. The core of the contemporary P & I Club is that it is a collection of shipowners who pool or share their risks, while an offshore corporate body manages the risks and pays the indemnities on the Club's behalf. Freight, Demurrage, and Defence Insurance, also known as "F.D.& D." or just "Defence," covers members for claims processing help and legal expenditures incurred in a variety of issues. The purpose of this paper is to investigate the F.D. & D. wordings of P&I Clubs. The methodology followed in this paper is literature review. In particular, the theoretical part of the paper was based on several relevant studies. However, the description and analysis of F.D. & D. insurance for each P & I club consisted of the material available in either the official sites or the articles of incorporation of the P & I clubs – since there are no relevant studies referring to this issue. The results of this paper showed that, even for minor, basic issues, the expense of legal advice and representation can run into tens of thousands of dollars. In addition, F. D. & D. coverage allows shipowners and charterers to conduct their business with confidence, knowing that if something goes wrong, they have coverage to assist preserve their rights.
Ασφάλιση
Κίνδυνος
Αποζημίωση
Δικαιώματα
P&I Clubs (Protection & Indemnity Clubs)
Insurance
Pooling
Rights