Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination.

Marine Insurance Coverage

Hull Insurance

Commercial Hull Insurance generally includes coverage for both physical damage to an owned or chartered vessel, salvage costs and limited property damage liability (collision and towers' liability) for the operation of that vessel. There are also specialized adaptations of hull insurance to cover vessels under construction (Builders' Risk) and for marine inventory held for sale (Boat Dealers' Physical Damage).

Protection & Indemnity (P&I)

provides bodily injury and property damage liability. P&I covers exposures for the owner and the vessels' liability others including the crew of the vessel. P&I policies also include wreck removal.

Commercial General Liability (CGL)

Land-based liability insurance coverage for premises, operations, independent contractors and product / completed operations. Major exclusions include watercraft (covered by P&I policies) and property in the care, custody and/or control of the insured (usually covered by property or legal liability coverages).

Legal Liabilities

There are a variety of coverages that address the different maritime bailee exposures (coverage for other people's property in the care of the insured). The list is self explanatory: Shiprepairers' Legal Liability, Marina Operators' Legal Liability, Terminal Operators' Liability, Stevedores' Liability and Wharfingers' Liability.

Marine General Liability (MGL)

This is a relatively new policy structure which often combines traditional Commercial General Liability with different kinds of maritime liabilities such as. P&I and legal liability. MGL policies were intially written to address the unique needs of business that had both land-based and maritime liability exposures. A note of caution: Some MGL policies have the look and feel of the Commercial General Liability policy, but may have been altered or amended so as to limit the insurance company's exposure to losses, often to the detriment of the policyholder.

Bumbershoot Excess Liability

Marine excess liabilities. Usually provides higher limits over primary liability coverages including general liability, P&I, legal liability, automobile liability, employers' liability etc.

Pollution Liability

Virtually all standard third-party policies exclude pollution. Coverage can be purchased to include environmental impairment coverage for a site, for Underground Storage Tanks, Above Ground Storage Tanks and for Vessels. We are brokers for the Water Quality Insurance Syndicate. As such, we can arrange coverage for vessel pollution coverage, including limited fines and penalties and a number of other ancillary coverages.

Ocean/Air Cargo

Covers world-wide physical damage and loss of imported / exported goods. Can be extended to cover inland shipments and warehousing in transit - Cargo Application.