Port Risks Insurance is a time policy covering the loss of or damage to the ship which is confined to a specified area. On agreement, this cover can also include limited navigation within an agreed area.
SHIPBUILDER’S PROTECTION
Builder’s Risks Insurance covers loss of or damage to a ship being built-from keel laying to the ship’s launching and sea trial, up until the ship is turned over by the ship builder to the ship owner. (Materials or parts which are not actually in the ship at the time of loss may also be covered under a special provision.)
SHIP REPAIRER’S LIABILITY
This insurance is designed to protect ship repairers against legal liabilities due to loss of or damage to a vessel or craft being repaired under their custody, care and control, subject to an agreed limit of liability.
MORTGAGEE INTEREST INSURANCE
Mortgagee Interest Insurance protects the innocent mortgagee from financial loss consequent to the mortgagor’s act or omission that prohibits the mortgagee from claiming under the standard Hull & Machinery, War & Strikes or Protection & Indemnity insurances.
LOSS OF HIRE COVERAGE
With this insurance, the Assured is indemnified from any consequent loss of hire or non-usage of the insured ship as a result of an insurable loss or damage of the vessel.
