| |
Our Products:
| |
Shipbuilders' Risk Insurance
Every shipyard will have a unique blend of exposures created from the different types of vessels under construction and the facilities in the yard. The most commonly used conditions are the Institute Builders Risks Clauses which give cover to the builder for physical damage to a vessel while under construction and it is usual to supplement the standard cover with extensions to address the specific exposures appropriate to the operation. In addition to providing cover for physical loss or damage to new vessels under construction, insurance cover will normally also include cover for third party liabilities, damage arising from faulty design, sea trials, war risks and strikes coverage. Cover can also be extended to include cargo risks for parts and machinery during storage and transportation to the yard, towage of a hull from a sub-contractors yard and expenses incurred by the yard following postponement of a launch. Our experience enables us to tailor our services to the requirements of an individual yard and the circumstances of a particular claim.
|
|