Cover

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We can provide cover for the following risks.

Shippers and Receivers

Increasingly contracts for the sale or purchase of cargo result in parties accepting shipping risk. A FOB purchase contract may contain a safe berth provision or a Cost and Freight sales contract may contain a provision that that the buyer has to guarantee the safety of the discharge berth even though they are not directly controlling the shipping.

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Terminal Operators

We can provide cover for Terminal Operators or parties who lease berths in ports to cover the legal and/or contractual liabilities to port or berth users. Risks that Operators face include physical loss and damage to third party property, loss of use, exposure to personal injury or pollution claims and of course the legal fees associated with defending claims or casualties of this nature.

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Freight forwarders

Freight Forwarders require tailor made cover to insure their exposure to their principals whose cargo they ship as agent or as carrier. Often acting for shippers and receivers a Freight Forwarder has exposure for loss damage and errors or omission to the cargo that they are shipping for their customers.

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NVOCCS

We can provide cover for companies that operate as a NVOCC and act as a consolidator or carrier to their clients who are shipping cargo.

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Piracy

Piracy  attacks in the Gulf of Aden, Indian Ocean, West Africa and Asia continue to be a problem for the shipping community with vessel and crews being hijacked and held for prior to being released. Despite the exposure, many Owners and Charterers are still prepared, or compelled commercially, to trade to these high risk zones.

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SOL

We can provide cover for Terminal Operators or parties who lease berths in ports to cover the legal and/or contractual liabilities to port or berth users. Risks that Operators face include physical loss and damage to third party property, loss of use, exposure to personal injury or pollution claims and of course the legal fees associated with defending claims or casualties of this nature.

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Bunkers

A Charterer may have an insurable interest in the bunkers or fuel oil supplied or purchased for an insured time chartered vessel. Because it is the property of the Assured it would not be covered under the Liability policy and should be insured separately.

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Freight at Risk

A Charterer may agree payment terms for freight to be received after the vessel has sailed or even at the discharge port. In such cases the Charterer has an insurable interest in the freight at risk that they expect to earn which may not be paid following a casualty or the total loss of a chartered ship.

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CONTACT

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