Marine & Cargo

Shipping is exposed to many risks arising from the perils of the sea and also from the quality and age of a vessel itself. Hull insurance provides protection against loss or damage to the vessel itself, its machinery and its equipment.

We can source on your behalf a broad range of policy coverage tailored to your client’s level of risk exposure:

  • All risks including machinery breakdown
  • Total loss only
  • Increased value
  • Restricted conditions excluding partial loss for machinery and heavy weather damage
  • Loss of hire
  • Mortgagees’ interests and mortgagees’ additional perils
  • War
  • Reinsurance: both proportional and non-proportional

The key benefits of this product include:

  • Worldwide comprehensive all-risks coverage for all equipment owned or operated
  • Flexible underwriting and pricing to cater for use and geographic location
  • Automatic coverage for additional equipment
  • 24/7 coverage – protects equipment in storage, in transit, onboard vessel or in operation
  • Coverage for equipment at exhibitions or events
  • Loss of revenue coverage or continuing expenses following damage or loss of equipment up to a maximum aggregated value of GBP50,000

Marine Equipment

We can also source Marine Equipment cover that suits owners and operators of the following types of equipment:

  • Remotely operated vehicles (ROV) and autonomous underwater vehicles (AUV)
  • Oceanographic survey equipment excluding streamer operations
  • Trenchers and ploughs
  • Dive bells and hyperbaric chambers
  • On vessel fixed equipment not covered by a hull insurance policy 
(cranes, decompression chambers, etc.

Minimum premium for the above is £5,000 or currency equivalent.

If you require any further information on this product or have any other London Market business queries to discuss, then please contact the London Market team or if you wish to submit your presentations via email then please send them to: londonmarkets@apcuw.com