This insurance covers physical loss or damage to the vessel and its equipment on board, collision liabilities, general average, salvage, and sue and labour with seperate sums insured.
Protection & Indemnity
The Protection and Indemnity insurance (P&I) covers the assureds’ legal liabilities towards third parties, both in contract and in tort. This includes liabilities arising from pollution, wreck removal, the carriage of cargo, liability for loss of life and injury to crew members, passengers and other.
Loss of Hire
Loss of Hire insurance covers the assured’s loss of income due to physical damage to the vessel, to the extent such loss is recoverable under a hull insurance.
War Risk
The War Risk insurance covers total loss, damage, collision liability, hull/freight interest, loss of hire, owner’s liability (P&I) including occupational injuries caused by war perils.
Freight, Defense & Demurrage
The FD&D insurance covers the assured’s legal assistance in relation to the operation of their vessels. FD&D cases typically relate to the building, repair, conversion, sale, purchase or chartering of vessels, or claims against or by brokers, agents and other parties providing goods or services to vessels.
Charterer’s Liabilities
Covers charterer’s liabilities for loss of or damage to the vessel and cargo, including damage caused by stevedores. Other marine liabilities typically covered are delay in port, unsafe berth, replacement of bad bunkers, general average contributions and pollution.