Our Cover

Hull & Machinery (H&M) Insurance: Hull and Machinery (H&M) Insurance is a type of marine insurance that provides coverage for physical damage to a ship and its machinery. It protects shipowners and operators from financial losses resulting from accidents, collisions, or other unforeseen events that cause damage to the vessel.

1. H&M Insurance covers the following:
   • Hull Damage: Structural damage to the ship’s body (e.g., bow, stern, decks).
   • Machinery Damage: Damage to the ship’s engines, boilers, generators, or other essential mechanical systems.
   • Equipment Damage: Loss or damage to shipboard equipment, including navigation systems, cranes, or winches.

Protection & Indemnity (P&I)

Protection & Indemnity (P&I):Shipowners’  (P&I) Insurance is a critical coverage for shipowners, charterers, and operators. It protects them against liabilities that arise from their operations and are not covered by standard hull and machinery insurance.

P&I insurance covers liabilities to third parties, which can arise in various situations, including:

• Injury or death of crew, passengers, or stevedores.
• Damage to third-party property, such as docks, other vessels, or offshore installations.
• Pollution claims, like oil spills or other environmental damage.

These liabilities can result in significant financial consequences, and P&I insurance ensures that you’re not exposed to catastrophic losses.

Large claims like pollution fines or third-party injuries can threaten a shipowner’s financial stability.

P&I insurance spreads these risks across all members of the mutual club, ensuring you have financial backing for unexpected liabilities.

Many maritime laws and international conventions (e.g., MARPOL, SOLAS) require shipowners to have adequate financial security to cover liabilities like pollution damage and wreck removal.

Without P&I insurance, you may not meet these requirements, potentially preventing your vessel from operating in certain jurisdictions

Charterer’s Liability Insurance

Charterer’s Liability Insurance: Charterer’s Liability Insurance is essential for companies chartering vessels (time, voyage, or bareboat charterers) to protect against legal and financial risks arising from their charter agreements. As a charterer, you are exposed to various liabilities that could result in significant financial loss if not properly insured. Here’s why this type of insurance is vital:

As a charterer, you may be held responsible for damages to third parties resulting from the vessel’s operation, such as:

• Pollution Incidents: Oil spills or environmental damage caused by the vessel.
• Cargo Damage or Loss: Claims from cargo owners for damage, contamination, or loss during transit.
• Injury or Death: Claims related to injury or death of crew, passengers, or other third parties.

Charterer’s Liability Insurance covers these liabilities, protecting your business from unexpected claims.

Cargo Insurance

Cargo Insurance: Ship Cargo Insurance is essential for protecting the financial interests of parties involved in the transportation of goods by sea. It safeguards against risks of loss or damage to the cargo during transit, whether by ship, truck, train, or air

Protection Against Financial Loss

• Cargo shipments are vulnerable to a wide range of risks, including accidents, theft, and natural disasters.
• A single incident, such as damage from rough seas or fire onboard, can result in substantial financial losses.
• Cargo insurance ensures you’re compensated for the value of the goods, mitigating the risk of total financial loss.

• Common Risks:
  • Fire, explosion, or grounding of the vessel.
  • Loss or damage due to storms or heavy weather.
  • Theft or piracy.
• Specialized Risks:
  • Handling damage during loading or unloading.
  • Contamination or spoilage (for perishable goods).
  • General Average claims

Freight Demurrage & Defence (FD&D):

Freight Demurrage & Defence (FD&D): FD&D), also known as Legal Costs Insurance, is a specialized form of marine insurance that covers the legal costs and expenses associated with disputes arising from the operation of a ship. It is designed for shipowners, charterers, and operators to protect against the often high expenses involved in resolving legal disputes.

Coverage Scope FD&D Insurance provides protection for legal costs related to disputes, such as:

• Freight Disputes:
  • Non-payment or underpayment of freight or charter hire.
• Demurrage and Laytime Disputes:
  • Claims related to delays in loading or unloading cargo.
• Charter Party Issues:
  • Disputes arising from charter agreements, such as breach of terms.
• Cargo Claims:
  • Issues related to cargo damage, loss, or misdelivery.
• Bunker Quality Disputes:
  • Claims involving the quality or specification of fuel supplied to the vessel.
• Crew and Employment Issues:
  • Disputes with crew or employment contracts.
• Ship Sale and Purchase Disputes:
  • Legal costs incurred during disagreements over vessel sales or purchases.

WarRisk

War Risks :Loss or damage caused by an act of war including civil war, revolution, rebellion, riot, hijacking or detention whereas normally these risks are excluded from the usual coverage. Such cover is given under other standard clauses like the Institute War and Strikes Clauses. It is also now common place for the War Risk policy to cover such risks as terrorism, piracy and hijacking.

• War, civil war, revolution and rebellion
• Capture, seizure, arrest, restraint or detention
• Mines, torpedoes, bombs or other weapons of war, even when derelict
• Damage or loss caused by strikes and labour disturbances
• Terrorists, people acting maliciously or from a political motive
• Piracy or violent theft by people from outside the ship