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