Comprehensive cover against risks of loss or damage for goods in transit from point A to B by sea, air (including courier) and land
As goods move across sea, land or international borders, tracking them becomes increasingly important and difficult. This comprehensive insurance covers every step of the distribution chain, including goods in transit, international programs and project cargoes for specialist shipments. The main types of cover available are Marine Open Cover, Annual or Single Voyage Policy.
Type of policies
- Marine Open Cover
Open Cover is an automatic facility to insuring shipments on pre-agreed terms, cover limits and conditions. Suitable for those with regular cargo movements, the main advantage of this type of cover is the ease of administration as there is no need for individual shipments to be agreed. All shipments may be declared monthly or at agreed intervals. The Policy remains ‘open’ until cancelled in writing by either the Insured or insurer.
- Annual Policy
Similar to the Open Cover, the Annual Policy is the perfect solution for business with high volume shipments. All terms, cover limits and conditions are also pre-agreed. There is no necessity to file shipment declarations to the insurer; instead an estimated annual turnover is declared at the inception and then adjusted against the actual turnover declared for the entire policy period. A minimum and deposit premium is usually levied at the commencement of the policy period and an additional premium charged at the end, where appropriate.
Being an annual policy, the cover is renewable at end of each policy period based on the projected estimated annual turnover for the next period.
- Single Voyage Policy
Covering shipment for a specific voyage only, this form of insurance is suitable for shippers with infrequent or the occasional shipment.
Third party liability insurance protecting the Insured against their legal liabilities arising from the insured activities.
Those companies servicing and supporting the maritime industry which facilitate the safe transport, logistics, handling and storage of goods are vital to the success of a marine –related operation.
We understand marine is a global business and provide the specialized primary and excess liability coverages marine-related operations need to move forward with confidence. We ensure the best possible protection for our clients’ assets and their business reputation.
- Freight-Forwarder’s Liability
Package covers against liability for cargo, errors and omission, third-party liability arising from freight-forwarding operations
- Ship Repairer’s Liability
Indemnifies against liability for damage to vessel, machinery or equipment whilst being worked upon, and third-party liability arising from ship repairing operations
- Port/Terminal Operator’s Liability
Indemnifies against liability for damage to third-party property, bodily injury, defense cost and expenses resulting from insured operation within the port
- Charterer’s Liability
Indemnifies against legal liability or expenses incurred as time or voyage vessel charterer in respect of hull of insured vessel, cargo, third-party death or injury and/or property damage, pollution
Protection for assets that are moveable or mobile in nature, in transit or in storage, where specialization is needed or unique exposures exist.
Inland marine insurance addresses the needs of many. Whether it is an excavation contractor, a property developer, a trucker or a specialty operation, coverage can be essential to protecting business property in an ever changing market.
In the region, our focus industries are Transportation, Construction and Specialty (Bailee Care, Custody and Control, Communication, Entertainment, Equipment Finance / Leasing, Manufacturers).
- Contractor’s Equipment Policy
Pleasure Craft Insurance
The lure of open waters stems from the freedom and adventure it promises. However, this is not without the perils of the high seas, where furious waves and unyielding winds can put you and your vessel in danger. One cannot avoid the unexpected even when berthed, and owners of pleasure crafts still run the risk of theft, damage, loss and/or incurring third party legal liabilities.
If you are an avid navigator and owner of a pleasure craft, we invite you to take up Pleasure Craft insurance and secure your vessel.
Important Notes : This information is for reference only and is not a contract of insurance. Full details of the policy terms and conditions can be found in the policy contract.
To know more, please Contact Us