P&I Insurance, or Protection and Indemnity Insurance, is a type of marine insurance that provides coverage for shipowners and operators against various liabilities. This includes claims for injury or death of crew members, damage to cargo, and environmental pollution. It is essential for vessels engaged in international trade, as it helps protect against the financial risks associated with maritime operations. P&I Insurance is typically provided by mutual insurance associations, known as P&I Clubs. These clubs pool resources from their members to cover claims, ensuring that shipowners have access to necessary funds in case of accidents or legal disputes. This collaborative approach helps maintain stability in the maritime industry.