An article from the Hellenic Shipping News on 12th April seeks to answer this question, saying that it is specifically designed to address the unique needs of the marine industry. It covers practically all maritime liability risks associated with the ownership and operation of a vessel, including third-party risks for damage caused to cargo during transit, risks of environmental damage such as oil spills and pollution, war, and political risks. It explains that P&I insurance is often provided by a P&I club, which is essentially a mutual insurance association that provides risk pooling, information, representation and risk mitigation for its members. Typical members of P&I clubs include ship owners, ship operators and charterers – and more recently, membership has been opened up to freight forwarders and warehouse operators. A P&I club reports only to its members, and not to shareholders like a traditional marine insurance company. The article provides examples of what P+I covers, and provides a brief historical background.