P&I Cover definition

P&I Cover means protection and indemnity insurance that, in the case of Vessel owners, covers liabilities concerning or arising from the following risks: (a) death and personal injury to seamen, passengers and third parties; (b) in respect of stowaways or persons rescued at sea; (c) collisions; (d) groundings; (e) damage to fixed and floating objects; (f) pollution; (g) wreck removal; (h) towage operations; and
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P&I Cover means protection and indemnity insurance that, in the case of Vessel owners, covers liabilities concerning or arising from the following
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Examples of P&I Cover in a sentence

  • Except to the extent of those risks covered by H&M Cover, the Owner must ensure, and it hereby warrants, that each Vessel for which it submits an Application will, for the duration of the Access Period, be covered by P&I Cover with a member club of the International Group of P&I Clubs, including cover against oil pollution claims in the amount and on the terms commonly provided by the International Group of P&I Clubs for that type of Vessel and its terms of entry and membership.

  • If required by Port of Melbourne the Owner must submit the Agreement to the P&I Club which has provided P&I Cover in respect of the Vessel and must advise Port of Melbourne if the P&I Club does not consent to the Agreement.

  • In the event that the Vessel is insured by a P&I Club not a member of the International Group of P&I Clubs, the Owner must inform Port of Melbourne of the details of the Vessel’s P&I Cover and the relevant insurer at the time of lodging the Application.

  • In the event that the Vessel is insured by a P&I Club not a member of the International Group of P&I Clubs, the Owner must inform Port of Melbourne of the details of the Vessels P&I Cover and the relevant insurer at the time of lodging the Application.

  • Seller believes that changing circumstances and increasing values at the Badak Facility necessitate making changes to the Omnibus Agreement regarding the required protection and indemnity insurance coverage in respect of the LNG Tankers ("P&I Cover").

  • All Insurances shall be in the joint names of the Owners and the Managers provided that, unless the Managers give their express prior consent, no liability to pay premiums or P&I Calls shall be imposed on the Managers, notwithstanding the restrictions on P&I Cover which would thereby result.

  • Seller and Buyers shall therefore engage as soon as possible in a process of mutual review and consultation in order to determine whether the P&I Cover should be increased to U.S.$300,000,000, as proposed by Seller.

  • Physical Address : 1st Floor, ▇ ▇▇▇▇ ▇▇▇▇▇▇ , ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇ Postal Address : PO Box 5724, Tyger Valley, 7536 Contact Details : (T) ▇▇▇ ▇▇▇ ▇▇▇▇ (F) ▇▇▇ ▇▇▇ ▇▇▇▇ (E) ▇▇▇▇@▇▇▇▇▇▇▇.▇▇.▇▇ (W) ▇▇▇.▇▇▇▇▇▇▇.▇▇.▇▇ PI Cover : smartMI holds Professional Indemnity cover and Fidelity Guarantees.

  • If required by VPCM the Owner must submit the Agreement to the P&I Club which has provided P&I Cover in respect of the Vessel and must advise VPCM if the P&I Club does not consent to the Agreement.

  • Physical Address : 3rd Floor, ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇ Postal Address : PO Box 786015, Sandton, 2146 Contact Details : (T) ▇▇▇ ▇▇▇ ▇▇▇▇ (W) ▇▇▇.▇▇▇▇▇▇▇▇▇.▇▇.▇▇ FSP Licensing : FSP 76 Guardrisk Life Limited is authorised to give advice and render financial services for products under the following categories : Long-term Insurance Category A, B1, B1-A, B2, B2A, C PI Cover : Guardrisk has Professional Indemnity Cover and Fidelity Guarantee Cover in place.

Related to P&I Cover

  • Lifetime health cover loading means the increased premiums payable by an insured person who does not take out an appropriate hospital cover prior to 1 July following their 31st birthday.

  • Lot coverage means the percentage of lot area covered by all buildings on the lot;

  • Impervious cover means a surface composed of material that significantly impedes or prevents natural infiltration of water into soil.

  • Fraud Coverage During the period prior to the first anniversary of the Cut-Off Date, 2.00% of the aggregate principal balance of the Mortgage Loans as of the Cut-Off Date (the "Initial Fraud Coverage"), reduced by Fraud Losses allocated to the Certificates since the Cut-Off Date; during the period from the first anniversary of the Cut-Off Date to (but not including) the fifth anniversary of the Cut-Off Date, the amount of the Fraud Coverage on the most recent previous anniversary of the Cut-Off Date (calculated in accordance with the second sentence of this paragraph) reduced by Fraud Losses allocated to the Certificates since such anniversary; and during the period on and after the fifth anniversary of the Cut-Off Date, zero. On each anniversary of the Cut-Off Date, the Fraud Coverage shall be reduced to the lesser of (i) on the first, second, third and fourth anniversaries of the Cut-Off Date, 1.00% of the aggregate principal balance of the Mortgage Loans as of the Due Date in the preceding month and (ii) the excess of the Initial Fraud Coverage over cumulative Fraud Losses allocated to the Certificates since the Cut-Off Date. The Fraud Coverage may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agencies.

  • Ground cover - means organic or non-organic material applied to prevent soil erosion such as concrete, flagstone, gravel, asphalt, grass or other landscaping.