Additional Covers

Every vessel and every voyage is different, and so not all charterers are exposed to the same risks. For this reason, we have created a series of smaller insurance packages that add on to our basic P&I Insurance to cover you against a range of additional liabilities.

We offer the following Additional Covers for liabilities falling outside the scope of a standard P&I or Marine Defence Insurance:

  • Bunker Insurance – For time charterers who are required to pay for fuel on their chartered vessel, this covers all losses following an incident with the vessel, and also a contributory value in the case of general average
  • Kidnap and Ransom Insurance – This covers costs that may arise from piracy and kidnapping, including extortion, ransom payments, legal costs, personal financial loss, fees for negotiators and interpreters, and medical and psychiatric care
  • Charterers’ Piracy Trade Disruption Insurance – If a vessel is captured and the charterer remains liable for the hire, this covers the hire charges payable during the detention of the vessel
  • Delay Insurance – This covers the charterer’s net loss if the charterer is unable to use the vessel as a result of damage for which the charterer is legally liable, or because the vessel has been seized or detained by port or customs authorities. The cover includes loss of earnings as well as additional expenses, such as depreciation of the cargo, legal fees and security costs, but excludes fines or penalties
  • Freight Insurance – This covers the risk of freight that is only paid upon delivery or after it has been delivered. If the cargo is lost during the voyage, the freight value is covered
  • Shipowners’ Liability Insurance (SOL) – This covers some of the restrictions and exclusions that apply to the basic Charterers’ Liability Insurance. If you are aware before you begin a voyage that you are likely to breach or deviate from the terms of the basic Charterers’ Liability package, we recommend that you get in touch with us to arrange additional cover through an SOL package
  • War Risk Insurance – This covers the legal liability and expenses that a charterer may face as a result of war or terrorism risks. Cover is worldwide, but known risk areas (e.g., Iraq and Somalia) are excluded