FOR SHIP OWNERS

We offer covers for damages to the ships, liabilities arising out of owning or managing vessels, and financial losses e.g. for defending claims,
due to different types of delay or even a pirate attack.
Please see below our specialized covers, which are being placed in national and international markets:

Protection and Indemnity

P&I insurance covers legal and some contractual liabilities of ship owners e.g. against contractors and crew. RDC/FFO maybe included as needed. We can place mutual club entries as well as fixed premium facilities.

Freight, Demurrage and Defense (FD&D) Insurance

FD&D insurance covers legal and other costs incurred by shipowners, managers or charterers in establishing and defending claims which arise out of an event occurring during the period of insurance/entry. This insurance is usually combined with P&I or Charterer’s Liability cover.

Hull & Machinery Insurance

H&M insurance covers the physical loss of or damages to a vessel and its machinery or equipment. RDC/FFO may be excluded as needed. We have access to various markets worldwide and place single shares or provide the full security for a fleet.

Hull Interest Insurance

Hull interest insurance covers the assured’s economic interest in the capital value of the ship. The hull interest insurance also covers excess collision liability.

Trading Delay (TD) Insurance

This insurance covers the loss of gross earnings and delay caused by shore or ship side perils as e.g. port and crew strikes, earthquake or by order of authorities like confiscation.

Loss of Hire (LOH) Insurance

LOH insurance reimburses the loss of income based on a daily amount insured resulting from a damage to the vessel. Usually the damage must be covered under H&M but the LOH cover may be extended to war risks and other non-physical perils.

Kidnap & Ransom (K&R) Insurance

K&R protects corporations or individuals operating in high-risk areas around the world against any losses, claims or ransom payments resulting from a piracy incident or attack or hijack on land. It includes provision of response plans to such incidents and the access to experts for handling these situations. It may be combined with a Piracy LOH cover.

Security Incident Response (SIR) cover

SIR cover is an extended cover including the K&R insurance but also criminal risks as product tampering or suspicious death, information risks such as cyber extortion, as well as detention, political or even terrorism risks.

War Risk Insurance

War risk insurance covers total loss and damages, collision liability, hull/freight interest, loss of hire, owner’s liability (P&I) including occupational injuries, as a consequence of war like hostilities, civil unrest, sabotage, terrorism, arrest, seizure etc.

Drug Seizure Insurance

A Drug Seizure Insurance indemnifies the Insured for financial loss following a vessel being detained for e.g. Illegal Goods. A Drug Seizure LOH insurance covers an agreed daily amount up to a maximum of 360 days whereas a Drug Seizure Total Loss insurance pays the value of the ship if it has been detained for more than 360 days.

Ship Owners Liability (SOL) cover

SOL insurance responds to legal liabilities resulting e.g. from ante-dated Bs/L or cargo loaded on deck with an under deck B/L. This goes only for claims that are customarily not covered by the P&I or CLI.

Crew Benefits

This cover can be arranged instead of the Crew cover within the P&I cover for a vessel. It may meet the minimal requirements of the MLC2006 or may be extended to e.g. include crew’s spouse and children or cover the employee during vacation periods and the family year.

Cyber Crime

The Cyber Crime cover is a combination of a commercial crime (or fidelity) and a cyber insurance. This policy covers financial losses due to theft, social engineering, extortion demands and the use of ransomware, network compromise as well as data breach. And costs incurred on defence and in mitigiation of loss are reimbursed.

Other

You haven’t found a solution for your situation or the cover you were looking for? We are happy to discuss your needs and arrange the cover you require in one of the several markets we have access to. Amongst others, we can offer Cyber Risks and Crime insurances.

To find out more about an insurance services or send an inquiry, please contact us.