Perlindungan dan Indemniti Malaysia Sdn Bhd (1156424T) better known as P&I Malaysia, incorporated on 21 August 2015, is the creation of the Government of Malaysia and the brainchild of Ministry Of Transport Malaysia (MOT). On 19 December 2018, Cabinet had included P&I Malaysia under Ministry of Transport (MOT) followed by a Federal Government Gazette “ Ministers of The Federal Government Order 2019” dated 22 January 2019.
The first task entrusted to P&I Malaysia was to create an affordable marine liability insurance scheme to facilitate compliance with the compulsory insurance requirement under the Merchant Shipping Ordinance 1952 (as amended by Act A1393) for small ship operators below 300GT. Having been in operations for over 6 years, P&I Malaysia now aspires to be a full-fledged transport insurance company.
P&I Malaysia is currently in strategic partnership and/or collaboration with The Shipowners’ Mutual Protection and Indemnity Association (Luxembourg) and Maritime Mutual Insurance Association (NZ) Limited for ships below 30,000GT and Archipelago Insurance Limited (Labuan) for the 300GT non-Convention ships’ scheme.
P&I Malaysia also acts as a national resource and reference centre for marine liability matters and its existence give effect to the IMO Assembly Resolution A.898(21) which urges all shipowners to maintain insurance or similar security. This would infer Malaysia’s commitments towards IMO as a member and a growing maritime nation.