Residual Value Insurance helps companies manage asset value risk by guaranteeing that a properly maintained asset will have a specified value at a future date. It is a product suitable for lessors unwilling or unable to take asset risk and from investors wishing to limit their downside.
Cyber Insurance covers your losses from a cyberattack, such as physical damage to the vessel, Loss of Hire, Business Interruption, Trade Disruption, Extortion & Threat, Liabilities and Defense costs. Our Cyber Risk. Covered solutions are tailored to maritime organizations and developed with market leading underwriters.
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Blocking and Trapping Insurance responds if the vessel or vessels are physically blocked or trapped in ports, rivers, waterways, channels, or similar due to congestion, accidents or external physical damage caused by civil risks, war risks, nature cats and force majeure events. The insurance pays an agreed daily indemnity.
Actions of Foreign Governments can lead to the loss of mobile assets or equipment held overseas including stocks, inventory, contractor’s plant and equipment or similar leased or mortgaged assets, including loss of rental or lease income. An Expropriation Insurance reduces these risks.
Financial Institutions and their clients are at risk of non-payment under Letters of Credit and other Instruments issued in accordance with UCP 600 and received from overseas Banks. Insurance can be arranged to cover the risk of default by the obligor bank as well as political issues preventing payment.
Loss of Hire insurance covers daily loss of income following a physical damage to the vessel. The loss as a general rule must be recoverable under the H&M cover, but can be extended to respond to war risk, and certain non-physical events.
If you are an organisation within the marine industry who handles large amounts of insurance documents and/or has the need to share this with a multitude of parties (banks, shipmanagers, investors, superintendents, fleet managers, accounting departments) our Electronic Client Portal may be the solution for you: "We will do the administration for you".
