- Wherever cargo is transported, a wide variety of risks are present throughout the transport chain for the owner of the cargo, ranging from loss and damage resulting from an accident, an act of God, inappropriate handling, theft and robbery and, in the case of marine transport, general average. Insurance cover against political and social risks is also becoming more important
- P&I Marine insurance is liability coverage for watercraft. It protects the insured from liabilities, from bodily injury, or property damage arising out of the use, or ownership of declared vessels. Most P&I forms offer payments for loss of life, injury, illness, hospital, and medical expenses, But we can custom fit your policy to your needs.
Insurance of vessel and its equipment are included under hull insurance, there are a number of classification of vessels such as ocean steamers, sailing vessels, builders, risks fleet policies and so on.It is concerned with the insurance of hull and machinery of ocean-going and other vessels like barges, tankers, Fishing and sailing vessels.Insurance of construction risks or builder’s risks deals with hull insurance for vessels when they are under construction.A recent development in hull insurance has been the growth of insurance of offshore oil/gas exploration and production units as well as connected construction risks.It is covered with the specialized class of business particularly for Fishing Vessels, Trawler’s, Dredgers, Inland and Sailing Vessels are available.