Marine Insurance
Hull insurance is specially designed to protect the owners against losses caused by ship damage expenses.
Who is Covered for Hull Insurance?
Boat manufacturers
Fleet owners
Ferry operators
Ship managers
Charter and tourist boat operators
Ship operators
Ship mortagegers
Resorts with boat transfers
Shipyard owners
Yacht Clubs
Water Sports Companies
What is Cargo Insurance?
A large number of risks are always present when goods are moved across the sea, land or air. Whether it’s from the time the goods leave your warehouse, throughout the course of transit or until delivery to the final warehouse, keeping them safe is highly important, and at the same time, challenging. Cargo insurance protects you as the buyer or seller, against various hazards related to the movement of goods or cargo.
Who is Covered for Cargo Insurance?
Importers/Exporters
Freight forwarders
Distributors
Logistics Companies
Manufacturers
Trucking companies
Hull Insurance Coverage
Hull & Machinery
Covers loss of or damage to a ship, its machinery and equipment
War & Strikes
Provides for losses or damages arising out of war, civil war, rebellion, strikers and terrorism
Shipbuilder’s Protection
Intended for shipyards against loss of or damage to a ship under construction
Ship-repairer’s Liability
Protects ship repairers against legal liabilities due to loss of or damage to a vessel being repaired under their care, custody and control
Terminal Operator’s Liability
Cargo Insurance Coverage
Seafreight Cover
Through navigable bodies of water by means of vessel.
Airfreight Cover
By means of aircraft.
Inland Cover
Through dry land by means of LTO-registered vehicles.
Stock Throughput Cover
Provides seamless cover for all moveable goods (inventory) that are subject of the insured’s trade, including raw materials, semi-finished and finished products.
Container Insurance Cover
Covers various types of containers or tanks used in transporting cargo or any moveable properties while they are in transit or in a container yard.
Cargo in Transit
Ensures recovery from cargo losses due to:
- Fire, explosion, stranding, grounding, sinking or capsizing of cargo vessel or craft
- Overturning or derailment of land conveyance
- Collision or contact of cargo vessel with any external object other than water
- Both-to-blame collision
