<p>My company is insured against third party liability by a P&I (Protection and Indemnity) club… In our case The Standard. The Club is a mutual, and so is owned by its shipowner members and controlled by a board of directors drawn from the membership. I dont know what we pay in premiums.</p>
<p>As for cargo, we abide by the CARRIAGE OF GOODS BY SEA ACT. For more information on COGSA go here > [Carriage</a> of Goods by Sea Act - Wikipedia, the free encyclopedia](<a href=“http://en.wikipedia.org/wiki/Carriage_of_Goods_by_Sea_Act]Carriage”>Carriage of Goods by Sea Act - Wikipedia)</p>