Marine Insurance covers risk at sea (Ocean Marine) and on land (Inland Marine).
Ocean marine insurance is split into three main categories: hull (for loss or damage to the vessel); cargo (for loss or damage to goods); and protection and indemnity (for liability of ship owners to others).
Cover provided in respect of goods transported by road, by the owner of the goods, the carrier or a transport broker. Cover may be on an all risk basis or limited cover options are also available and may include cover for contingent liability as well as third party liability for the goods carried.
The transportation of hazardous goods may be covered separately under a Hazchem policy. Talk to one of our specialists for tailor made solutions.
Specifically designed for the marine market, this policy caters for fishing vessels, diamond recovery vessels, charter vessels used on a commercial basis. Optional cover such as Protection and Indemnity, Collision Liability and War is available.
Stock through put insurance is designed for companies that import, export, distribute, or transport merchandise. The policy provides cover for all moveable stock, the subject of the insured’s trade, including raw materials, semi-finished, and finished products.
Goods are covered right through from import, inland transport, in storage (including at a third party’s premises) and through processing (although damage caused by the manufacturing process is excluded).
The stock through put policy can provide seamless coverage for stock throughout the entire supply chain, from the supplier or point of origin through to final destination.