Oilspill damages within the context of P & I (Protect & Indemnity) club insurance

In maritime law, a group of liabilities are excluded from warranty,by hull and Cargo insurances. These liabilities are arisen from the injured 3rd parties' claims and covered by P&I Clubs, which provide Protect and Indemnity clases. The P&I has a large scale of cover. Insuch indemnities, the oil spill indemnity, intends to compensate environmental injuries and 3rd parties' injuries that have been done by assured party's ship. In the first chapter of our study, the conception of the P&I Clubs will be mentioned. The historical background will be examined with milestones of navigation. Then, principal qualities, process and legal character of P&I Club Insurance will be discussed. At the end of this chapter, indemnities will be listed and described. Oil Spill risks will be described in the second chapter. Marine pollution and its reasons, negative effects of oil transport, pollution response, reflections of liability regarding to our legal system and international conventions, limitation of liability and supplementary compensation funds will be mentioned in this chapter. The third chapter is about compensation of oil spills in accordance with P&I club insurance. In this chapter, the term of risk will be defined in the meaning of environmental damages. Necessity of insurance, covered risks and 3rd parties' compensation claims against P&I clubs will be examined. At the end of this chapter, dispute resolution systems such as litigation and arbiteration regarding the compensation claims against P&I Clubs will be defined. Time bar of insurance will shortly be defined.