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Shipowners\\\\\' liability protection & indemnity insurance compensates an owner\\\\\'s liabilities, costs and expenses incurred on everything from an accident to third party casualties. P&I - Crew member liability and expenses; passenger and third party casualties. - Liability and expenses for collisions, pollution and freight items. - Liability and expenses for towage and contracts with third parties. - Liability and expenses for stowaways, refugees at sea, quarantine expenses, general average fines, defense costs, etc.   Present State of Insurance for Ships Year 2003 2004 2005 2006 2007 2008 No. of ships 764 846 910 1,054 1,171 1,240