Cargo Insurance

Basically, any commodity which is transported from one location to another and loaded on a marine vessel can be insured under this Policy.  There are several available covers "clauses" to chose from which vary in the scope of cover provided but all of which insure the cargo from the time the goods leave the warehouse or place of storage and terminate on delivery to the warehouse or storage of the final destination. 

The are several methods of calculating the sum to be insured under the policy, the most common of which is the cost of cargo and (C&F).  Policies may be issued separately for each shipment.  A more common form of Policy for large businesses is the 'Open Cover'.  In the Open Cover, all terms and conditions will be agreed at the time the policy is issued and an upper sum insured limit will be established to provide an automatic facility to the policyholder who undertakes to declare each and every shipment under the Policy as well as to declare the expected annual turnover.  This policy is issued on a 12 months basis and renewed at expiry.

In addition to marine cover, land transit insurance is available for transport of goods from one location to another using vehicles such as trailers or hauliers.  The cover can be granted on either a road risks (usual hazards arising from the road trip) basis or 'all risks' (any cause not specifically excluded in the policy) basis.  Policy can be issued to individuals as well as businesses. 

Please contact us to learn more about the different covers available under this section.

Marine Hull

Marine Hull Policy covers the ship itself along with its machinery and equipment.   The standard cover provided under this policy includes named perils (causes), pollution hazard and limited collision liability.  The most common form of insurance under this heading will cover the vessel for a fixed time period usually not exceeding 12 months (Time Policy). Another form is the 'Voyage Policy' where insurance will operate during the period of the voyage and a separate policy will be issued for each voyage made..

Aviation and Space

The Aviation Policy will cover the Aircraft (Hull) and all spares and equipment whilst the aircraft is on the ground or flying.   Cover is on 'all risks' basis, being cover for all causes not specifically excluded in the Policy.  Cover is usually extended to include liabilities to passengers and liabilities to other third parties (bodily injury and property damage).  This policy is for large commercial airlines, corporate business aircraft owners, private owners and flying clubs.

Space Insurance is mainly for those involved with satellites business.  The cover is mainly for material damage, during testing or launch as well as while in orbit and loss of revenue.