Trade Disruption Insurance covers events that does not directly affects your vessel or production unit, but which nevertheless reduces your income due to damage to onshore import or export terminals, pipelines, blockage of ports or waterways, force majeure events, weather, expropriation, change in legislation.
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.
Covers physical damage to electronic equipment and devices ranging from navigation- and communication systems to crane control- and machine monitoring systems. Cover is structured to coincide with the deductible on the vessel's Hull & Machinery policy, thus ensuring seamless continuity of cover with a much reduced client retention.
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.
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".
