OUR SERVICES
We are providing our customers a wide range of service for marine related risks including, but not limited to the following items.
Protection & Indemnity
Usually referred to as “P&I” protect ship owners, operators and charterers for third party liabilities encountered and the cover indemnify in case if they are liable to compensate third party losses. P&I insurance is a vital to maintain commercial activities of all relevant parties at shipping industry.
Hull & Machinery
Hull and Machinery insurance will cover your vessel, including hull, machinery, gear and equipment against physical loss or damage. There would be cover for the ship's proportion of salvage, salvage charges, general average as well as wages and maintenance subject to terms and conditions of the policy.
Freight, Demurrage & Defence
Usually referred to as “FD&D” provides ship owners' reasonable costs for necessary legal assistance in relation to disputes, which are directly connected with the operation of the insured vessel. The cover can be purchased by lots of P&I providers or might be purchased stand alone. It goes without saying that you do not need to be liable to be held liable, so FD&D cover is a good product that is recommended by all underwriters.
War & Strike
This is a type of insurance which covers damage due to acts of war including invasion, insurrection, rebellion and hijacking and also covers physical losses from strikes. The premium varies basing on the expected stability of the countries to which the vessel will enter.
Yacht Insurance
Yacht insurance provides cover for classic hull and machinery cover with combination of numerous additional covers to make one-stop- shop possible within pleasure craft segment. There are numerous covers available such as extended machinery damage cover, racing risks, war and strikes, increased value, cash onboard, personal effect, art and valuables, watersports liabilities, protection and indemnity, uninsured boater coverage, medical expenses and personal accident.
Charterers' Liability
Charterers' liability is practically the same cover as P&I insurance for the ship owner, but extended to cover charterers' liability for damage to ship itself. It might vary to underwriters but the main covers are such as liability in respect of hull, liability of cargo, protection & indemnity.
Port Risks
Port package policy is a comprehensive insurance product designed to cope with the combinations of commercial and environmental business risks faced by port authorities.
Cargo Insurance
Cargo insurance provides cover against all risks of physical loss or damage to cargo from any external cause during shipping, whether by land, sea or air subject to policy terms and conditions. The way of cargo insurance from single shipment policy to highly complex open contract covering all cargo in all destinations during certain period of time..
Loss of hire
Loss of Hire insurance compensate daily hire amount stated in your policy whilst your ship is under repairs following an accident covered under H&M insurance. It may vary but the trend is that the underwriters would normally allow 14 days deductible. This is a commercial insurance where the ship owners/operators/managers are not obliged to purchase.
Builder’s Risk
Builder’s Risk policy is insurance for the vessel under construction. This policy gives coverage to all risks of loss or damage to vessel whilst under construction or conversion and during trials and would include certain liability risks subject to terms and conditions of the policy. Builder’s Risk insurance is mostly purchased by ship builders.
Marine Liability
Insurance for liability or property damages to a third party while engaged in marine related operations which caused errors, omissions or negligence in performing services. The cover can be made on a tailor made for any marine related business segment.
