Marine Insurance (Ocean Cargo, Hull & P&I)
Marine Insurance (Ocean Cargo, Hull & P&I) is designed to protect domestic marine and transportation operations against the financial risks associated with moving goods, operating vessels, and managing maritime liabilities.
Coverage supports organizations involved in shipping, logistics, marine transportation, and cargo handling by addressing both physical loss exposures and third-party liability risks arising from marine operations.
Coverage may include protection for:
Ocean cargo and goods in transit: Coverage for goods transported by sea or through interconnected domestic shipping routes, protecting against loss or damage during transit, loading, unloading, and temporary storage.
Hull & Machinery (H&M): Protection for physical damage to owned or operated vessels, including hull structures, onboard equipment, and machinery resulting from collisions, grounding, fire, weather events, or other insured marine perils.
Protection & Indemnity (P&I): Liability coverage for vessel owners and operators against third-party claims involving bodily injury, cargo damage, pollution, collision liability, and other maritime operational exposures.
Port, terminal, and handling exposures: Coverage for liabilities and operational risks associated with cargo handling, storage facilities, docks, terminals, and related marine infrastructure.
General average and salvage costs: Protection for shared maritime expenses and recovery costs that may arise during emergency actions taken to preserve vessels and cargo.
Operational continuity and financial protection: Designed to help organizations manage the financial impact of marine-related incidents, transportation disruptions, and liability claims affecting day-to-day operations.
Marine Insurance (Ocean Cargo, Hull & P&I) is structured to support operational continuity, protect marine assets and cargo, and help organizations navigate the complex risks associated with domestic marine transportation and shipping activities.