A certificate, issued by a P&I club to a vessel entered with the club for cover against third party liabilities, as evidence of the contract of indemnity insurance between the club and the club member or members named in the certificate. It shows the risks covered (e. g. “Class 1 Protection and Indemnity risks”), any inclusions (e. g. “four fourths collision liability in accordance with Rule… “), any exclusions, and the deductible(s) to be borne by the member.