Marine Cargo Insurance

Marine Insurance covers damages to the shell and machinery of the vessel, cargo carried on the vessel, and also offers protection against liabilities to shipping and transport related companies.

  • Marine Hull and Machinery Insurance
  • Marine Cargo Insurance
  • Marine umbrella Liability Insurance

Cooperative Insurance offers coverage for the following:

Marine Hull
This policy covers losses / damages to the shell and machinery of the vessel caused by maritime perils.

Benefits and Coverage:

This insurance policy covers the following perils, losses and damages:

  • Perils of the seas, rivers, lakes or other navigable waters
  • Fire and explosion
  • Violent theft by outside persons: Jettison or Piracy
  • Contact with land conveyance, dock or harbor equipment or installation
  • Earthquake, volcanic eruption or lightning
  • Accidents in loading, discharging or shifting cargo or fuel
  • Bursting of boilers, breakage of shafts or any latent defect in the machinery or hull Negligence of Master Officers, Crew or Pilots
  • Negligence of repairers or charter
  • Barratry of Master Officers or crew Contact with aircrafts, helicopters or similar objects, or objects falling there from
  • Salvage charges when general average is declared

Marine Cargo
Marine Cargo caters to losses /damages pertaining to cargo / freight carried on the vessels. We provide all risks coverage as well as policies covering limited risks depending upon the needs of our valued clients.

Benefits and Coverage:

Our marine cargo insurance covers different risks depending upon the type of coverage sought by our customers. The policy provides:

  • Protection against “All Risk” for loss and damage to cargo resulting from a fortuity during transit by sea, air, road and rail.
  • Restricted coverage depending upon customer need other then All Risk for transit by sea, air, road and rail.

Marine Umbrella
Marine Umbrella Liability is a broad spectrum cover offering protection against liabilities to shipping / logistics and transport related companies.

Benefits and Coverage:

This insurance could be of substantial benefit to:

  • Ship or vessel operators
  • Freight forwarders, road transport operators, NVOC, railway operators, carriers by air, ware house depot operators
  • Ship agents, brokers and the services associated with shipping transportation
  • Terminal operators, stevedores operators, operators of container/trailer, storage and repairers

Port harbors or port authorities