Marine Insurance
Provides coverage against the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred between points of origin and destination.
- Cargo Insurance
- Protection for goods in transit against risks such as theft, damage, or loss.
- Hull Insurance
- Covers damages to the ship or vessel itself.
- Marine Liability Insurance
- Covers liabilities arising from marine activities, including damage to ports, collisions, and environmental damage
- Protection and Indemnity (P&I) Insurance
- Provides liability coverage for shipowners against third-party claims, including injury to crew, pollution, and damage to other ships or cargo.
Information/Documents needed for Marine Insurance
- Assured's Name: Name of the insured individual or entity.
- Voyage Route: The planned route for the journey.
- Frequency of Voyage: How often the journey is undertaken.
- Type of Cover: The specific insurance coverage, such as cargo, hull, or aviation.
- Details of Vessel/Aircraft: Information about the vessel or aircraft being insured.
- Conveyance: The mode of transportation (land - truck, sea - ship, air - plane).
- Geographical Limit: The coverage area for the insurance policy.
- Sum Insured: The amount of insurance coverage provided.
- Mortgage (if applicable): Details of any mortgages on the insured property.
- Loss History: Record of previous claims or losses related to the insured property.
