Question: 2. P & I Insurance (Counts for about 20 %) (1) Explain the premium system for P&I Insurance and explain why such a system is

2. P & I Insurance (Counts for about 20 %)

(1) Explain the premium system for P&I Insurance and explain why such a system is in place

(2) Explain the mutuality system, which is a basic element for the structure of a mutual P&I club.

(3) Give an outline of the market for P&I Insurance and of the participants in this market.

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