The question of whether protection-and-indemnity (P&I) clubs are just that or third-party insurers has again been in contention.

The spectacular grounding of the 547-teu containership Yusuf Cepnioglu (built 2005), on rocks off the Greek island of Mykonos in 2014 that required a costly wreck removal, has posed the latest challenge to the traditional “pay to be paid” principle of P&I club cover.

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