An analysis of p&i claims in marine insurance: P&i claims of the vessels according to their basic characteristics

The concept of marine insurance arisen and advanced throughout the history together with arise and development of sea trade and assurance. P&I insurance was born during the evolvement of marine insurance due to lack of needs of the market as a supplementary item however, P&I insurance differs on several aspects from other types of marine insurance. P&I insurance commenced providing protection warrantees initially, thereafter expanded with the indemnity warrantees. P&I insurance is named as club insurance as well and provides security for the third party liabilities of the vessels in general. In recent years P&I insurance became necessary for shipowners, because of legal developments both in the world and Turkey. Convention on Limitation of Liability for Maritime Claims (LLMC), Civil Liability for Oil Pollution Damage (CLC) and International Convention on Civil Liability for Bunker Oil Pollution Damage (BUNKER) can be considered as examples of international conventions, specially regarding environmental pollution. A legal application of P&I insurance in Turkey; ''Regulation on Insurance and Inspection of Ships Concerning Maritime Claims'' was issued on 14.11.2010 on official gazette no. 27759 and entered into force on 01.07.2011. International group of P&I clubs provides liability cover for approximately %90 of the world's ocean-going tonnage. Therefore, P&I clubs perform analysis of the claims and risks to reduce effects and costs of losses. Some of the clubs analyses the claims by categorizing frequencies, costs, ships' types and claim types. These analyzes not only encourage quality and momentum of sea trade but also serve for preventing losses of lives and goods as of importance. Claim analysis were performed on country basis by some of the P&I clubs as well and several differences were observed across countries on both claim types and ship types. However, no detailed analysis have been performed up to date regarding P&I claims occurred in Turkey. In this research, the relationship between the ships' characteristics and the claim types were analyzed by using SPSS statistical software via performing chi-square, post-hoc and one-way anova tests. Thus, frequent claim types in Turkey and the ships' characteristics that are related to the claim types are aimed to be investigated. Keywords: Marine Insurance, P&I Insurance, P&I Claims, Ship Specifications, Claim Analysis