P & I Club
A mutual association of shipowners who provide protection against liabilities by means of contributions. The members of the Club share each other's liabilities; the insurer also being the assured.
At present, there are less than 20 P&I Clubs in operation. The major Clubs have joined the International Group of Protection and Indemnity Clubs, forming a pool for reinsurance purposes, as well as giving attention to problems of general concern to members.
The major Clubs are in the United Kingdom, Scandinavia, Japan and the United States of America.