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PI insurance vs. P&I club insurance

Discussion in 'General Yachting Discussion' started by tirekicker11, Nov 1, 2010.

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  1. tirekicker11, Nov 1, 2010
    #1
    tirekicker11

    tirekicker11 Senior Member

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    Homework related question of my IIMS course:

    What's the difference between PI insurance and P&I Club insurance

    Now, I can understand what the difference is but I don't understand why someone would choose to get PI insurance instead of choosing to join a P&I Club?

    Does anybody know?
  2. dennismc, Nov 1, 2010
    #2
    dennismc

    dennismc Senior Member

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    Insurance

    The club coverage is a bit like Lyods members, members may be asked to cover shortages in event of major disasterous claims, as such the premiums usually reflect a safety margin to cover the potential disasters also, there are fairly restrictive rules covering the policy, liability coverage however can be quite extensive in outer limit values and indeed can be as generous as "unlimited" in $
    value, I initially had unlimited coverage but recently have reduced it to 500 million. Your agent should be able to discuss these issues in more exact detail with you.
  3. tirekicker11, Nov 1, 2010
    #3
    tirekicker11

    tirekicker11 Senior Member

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    Thanks DennisMC!
  4. tirekicker11, Apr 10, 2011
    #4
    tirekicker11

    tirekicker11 Senior Member

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    Supreme Court Act 1981

    New homework question that I don't understand:

    "The Supreme Court Act 1981 provides that for certain claims, certain conditions must be fullfilled before an in rem claim can be brought and details against what the claim can be brought. List 2 of these claims and explain the conditions that must be fullfilled and what the claim can be brought against."

    Any help here will be appreciated as I really don't know where to look for the answer.
  5. Old Phart, Apr 10, 2011
    #5
    Old Phart

    Old Phart Senior Member

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    I dunno
    Have you tried GOOGLE?

    Also note a name change from Supreme to Senior

    Perhaps this GOOGLE link will provide some relief. :D

    http://www.i-law.com/ilaw/doc/view.htm?id=168410