Owner’s liabilities are the contractual and legal liabilities arising from owning and/or operating a ship.
Owner/manager’s vessel will be insured under P&I insurance warranted that the risks have occured either from legal /contractual liability of the owners or the risks are derived from peril’s of the sea.
Cover is being provided mainly in the following sections:
• crew claims
• stowaway claims
• collision (unless otherwise specified only ¼ of collision liability is under P&I cover, remaining is included with hull and machinery policy under London, Institute Time Clauses- Hulls.
• wreck removal
• cargo claims
• pollution and mitigation expenses
• towage risks during towage of vessel
• quarantine expenses