What is marine liability insurance

what is marine liability insurance

Marine Liability

Those companies servicing and supporting the maritime industry which facilitate the safe transport, logistics, handling and storage of goods are vital to the success of a marine-related operation.

We understand marine is a global business and provide the specialized primary and excess liability coverages marine-related operations need to move forward with confidence. We combine our local expertise and knowledge with the quality and responsiveness of our international network, to ensure the best possible protection for our clients’ assets and their business reputation.

Features & Benefits

Claims and underwriting collaboration as embedded culture for a thorough understanding of customers’ needs

Large geographic footprint benefiting companies doing business in multiple jurisdictions - global coverage with local policies where needed for multinational risks

More than 90 years of experience and commitment to the industry offering stable, high-limit capacity with a diverse appetite for risk

Marine Loss Control Engineering (MLCE) group staffed with experienced loss control professionals across the globe

Recovery and risk management services provided by marine specialists throughout the world

Coverage

Stevedore’s Liability: for a client’s liability

as a stevedore for third-party property damage and bodily injury arising out of vessel loading and unloading operations

Wharfinger’s Liability: for a client's liability as a wharf owner for third-party property damage and bodily injury arising out of the care and custody of vessels

Terminal Operator’s Liability: combines Stevedore’s Liability and Wharfinger’s Liability with other coverages, depending on the nature and scope of a client’s activities

Marine General Liability: protects marine industry artisans and contractors for third-party bodily injury, property damage, personal and advertising industry and contractual liability arising out of their operations

Ship Repairer’s Liability: for a client’s liability for vessels and other third-party exposures (including bodily injury) arising out of repair operations

Charterer’s Liability:  for a client’s liabilities assumed under a charter party; primarily hull damage and protection and ondemnity (P&I) risks

Excess Marine Liabilities: for a client’s capacity needs in excess of any of the above coverages and/or excess P&I, collision liability and tower’s Liability

Bumbershoot: marine umbrella policy providing coverage in excess of marine and incidental non-marine primary policies, with a self-insured retention feature for uninsured marine perils

Source: www.aig.com

Category: Insurance

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