JPIA - What does JPIA stand for? The Free Dictionary
References in periodicals archive
The Japanese business daily the Nikkei said that most of this liability coverage has been offered by the Japan Shipowners' Mutual Protection & Indemnity Association (JPIA
), Reuters reported on Tuesday.
Most of this coverage has been offered by the Japan Shipowners' Mutual Protection Indemnity Association (JPIA), which in turn takes out reinsurance to safeguard against potentially large claims.
Without reinsurance, JPIA's liability insurance would cover only up to USD 8 million in damages, instead of the current maximum USD 7.6 billion, which will discourage shipping firms from taking on Iranian oil.