Common use of P&I insurance Clause in Contracts

P&I insurance. 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. 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.

P&I insurance. 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. 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 Vessels P&I Cover and the relevant insurer at the time of lodging the Application.