Ship-owners and ship managers are exposed to various maritime perils. Marine Hull Insurance is a specialized type of insurance as it requires careful study of each type of Hull. BGIC’s Marine Hull insurance help ship-owners protect their assets and liability exposure. Whether you are cruising along the coast, out fishing, racing or simply having fun, don’t let your plans get washed overboard by unexpected events.
Scope of Cover
- Hull and Machinery.
- Disbursements (Increased Value) or Freight Interest Insurance.
- Protection and Indemnity (P&I).
- Freight, Demurrage and Defence (FD&D).
- Charterer’s Liability Insurance.
- Crew Personnel Accident (PA) Cover.
- Hull and Machinery – War & Strikes Risks.
- Loss of Hire.
- Builders Risks.
- Ship Repairer’s Liability.
- Port Authorities and Terminal Operators.
The policy covers perils of the seas, rivers, lakes or other navigable waters and loss/damage to the property of the insured caused by:
- Fire, explosion..
- Stranding, sinking etc..
- General average, salvage charges..
- Piracy, Kidnapping & Ransom..
- Contact with aircraft or similar objects, or objects falling there from, land conveyance, dock or harbor equipment or installation..
- Earthquake volcanic eruption or lightning..
- Crew Negligence.