MARINE INSURANCE IN INDIA

Marine Insurance is our specialty. We conform to all international standards of this type of insurance. Our Marine Insurance experts help customers get protection to cover loss or damage of ships, terminals, cargo, and any transport of cargo where property is transferred, acquired, or held between the points of origin and the final destination. Our team of professionals ensure our customers have the best solutions available to them even in the most difficult situation.

Marine Cargo

Whether by road, rail, river or sea, moving goods safely from one place to another is the most vital aspect of any trade. This process entails multiple and unique risks, which is why Marine Cargo insurance protection is so important. Our experts understand the risks involved and arrange for the most appropriate insurance covers.

Covers:
• Normal Cargo
• Bulk Cargo
• Project Cargo
• Transit Cargo

Depending on our client’s needs, we can also arrange for Marine Specific Policy, Marine Open Cover, Marine Annual Turnover Policy, and Marine Annual Policy.

Marine Hull and Machinery Insurance

Our expertise is Marine Hull insurance policies for all types of vessels which covers physical loss or damage to the hull and machinery (H&M) of each vessel. Vessels include all ocean going ships, barges, boats, speed boats, fishing vessels, coastal and inland vessels and dredges.

Covers:
• Protection and Indemnity Liabilities
• Charter Liabilities
• Charterers Freight
• General Average Disbursement
• Ship Repairers' Liabilities
• Shipbuilding Risks
• Ship breaking Risks

Additional Risks:
• Fire, explosion, collision
• Stranding or sinking
• Overturning or derailment
• General average sacrifice or salvage charges
• Jettisons or Piracy
• Earthquake, volcanic eruption, lightening
• Crew negligence

Port and Terminals

Port and Terminal Risks are sophisticated and require expert skill.

Covers:
• Port Authorities
• Jetty Owners
• Private and Public Port Operators
• Container Terminals
• Dry and Liquid Bulk Terminals
• Stevedores
• Marinas

Risks include:
• Physical damage to property
• Vessels and floating objects
• Cargo Handling equipments
• Third Party Liabilities in respect of legal and/or contractual liability
• Professional Liability for negligent acts, errors or omissions
• Business interruption
• P&I and Port liabilities
• Removal of wreck
• Clean-up costs
• Terrorism Risks
• Fines & Penalties imposed by Authorities
• Wharfingers Liability
• First Dollar Defense Liabilities

Stevedore Liability Insurance

This marine policy provides liability coverage for stevedores arising out of the loading and unloading of a vessel. It includes coverage for physical loss or damage to the property of others while in the insured’s care, custody & control.

Risks:
• Loss due to storm, tempest, flood and inundation
• Burglary or theft of cargo

Contractors Plant and Machinery (CPM) Policy

This policy covers loss or damage to machinery or equipment resulting to heavy financial losses, business interruptions and also third party losses for the personal injuries and/or property losses. These policies also cover the losses due to an accident arising out of external perils. We arrange for the covers when this equipment is in operation, at rest or while getting dismantled during overhauling or for repairs or cleaning. A comprehensive policy is also offered that covers owners surrounding property, clearance and removal of debris

Risks:
• Internal electrical or mechanical breakdown
• Replaceable parts or attachments whilst in transit
• Wear and tear corrosion, rust, deterioration and atmospheric conditions
• Air Freight
• Customs Duty
• Dismantling
• Escalation
• Third party losses
• Floater cover
• Earth quake
• Terrorism
• STFI

Container Insurance

Container insurance offers protection to cargo and goods from the onslaught of weather conditions during transit, theft and burglaries or other external forces. Our insurance policies are based on a sum insured, calculated at the maximum value of the containers. We arrange for the cover for three different kinds of losses or damages: Total Loss, Partial Loss, and Partial Liability. If the client wishes to cover comprehensively, we can arrange for an All Risks package policy. The cover is also arranged both for the Loaded Containers as well as Empty Containers depending upon the needs of the client.