MARINE INSURANCE
TYPE OF POLICIES
Marine Hull & Machinery
- Covers physical loss or damage to the hull and machinery which constitute the ship itself
Protection & Indemnity
- Coverage in respect of third party liabilities and expenses arising out of the ownership or operating of ships
Freight, Demurrage & Defence
- Cover against legal costs and legal assistance for a wide ranging number of disputes arising from the owning, operation, sale, purchase or building of a ship
Hangar Keeper’s Liability
- Provides coverage for damage to or destruction of the aircraft of others while in the insured’s custody for storage, repair, or safekeeping and while in or on the scheduled premises
CARGO INSURANCE
Types of policies:
- Marine Cargo
- Coverage provided for:
• Shipment by vessel
• Sending by air
• Inland Transit
• Sending by post or courier service - Policy arrangement:
• Individual policy
• Open Cover policy
- Coverage provided for:
- Stock Throughput
- Provides cover for all moveable goods that are the subject of the insured’s trade including raw materials, semi-finished and finished products. The goods are covered at all times whether in transit, undergoing process (although damage caused by the process is excluded) or in store at own or third party premises