Marine

• The Maritime arena remains a high-risk business, one of the few where catastrophic accidents can and do happen on a regular basis. On top of traditional perils such as, bad weather and manmade accidents, marine business remains vulnerable to a wider spectrum of emerging risks. Maritime industry companies have very specific insurance needs. Passengers, goods, boats and complex machinery are all at risk during a trip.
• Hull and Machinery cover may need to be placed in your domestic insurance market with the majority of actual risk and premium being passed on to international insurers through a reinsurance placement. This can be the more important element of the placement if the local insurer is only retaining a small amount of risk, as they will look to the reinsurers for payment of claims.
• We will work in partnership with you to develop an insurance and risk program that responds to the increasingly sophisticated risks you face as a business.

PORT PACKAGE IS A COMPREHENSIVE POLICY FOR PORT AUTHORITIES AND TERMINAL OPERATORS. THE POLICY COVERAGE INCLUDES:

• Port Package is a comprehensive policy for port authorities and terminal operators. The policy coverage includes:
• Property damage (Physical damage to property by fire and other natural perils like storm, cyclone, tempest, hurricane etc)
• Floating objects (Damage to vessels and other floating objects including all risks involved with dredging operations)
• Port Liabilities
• Removal of Wreck
• Clean up cost
• Port Blockage
• Business Interruption consequent upon damage due to any peril insured under the policy
• Investigation, defense and mitigation costs
• Disposal, quarantine and disinfection costs
• Architects’, surveyors’ and consulting engineers’ fees necessarily incurred in the reinstatement of the property, consequent upon its destruction and damage
• Loss or damage to equipment including loss due to strikes, riots and terrorism
• Liabilities for loss or damage to cargo, customer’s equipment and ships
• Liabilities arising from errors and omissions including delay and unauthorized delivery
• Third party liabilities including collision/impact and sudden accidental pollution