Marine Liability Insurance
Marine term includes the following duties and activities: charterer, marina operator, ship repair companies, port handling companies, terminal operator, port operator, shipbuilding companies. A separate Protection and Indemnity (or P&I) term is used to define responsibility undertaken for the management of marine vehicles or fishing vessels.
loaded, handled or stored cargo;
ships under repair;
berth, quay, underwater pipelines, and navigation signs under repair;
vessels moored at berths;
the property and health of third parties (passengers, carriers who bring/collect the cargo to/from the port, loading and discharging vessel, persons within the policyholder’s territory or present in buildings, infrastructure, etc.);
harm caused by the product or service provided by the policyholder (e.g. damage to the engine of the vessel due to poor-quality fuel);
harm made to the environment.
marine business is a risky business because in many cases the value of managed assets reaches tens of millions of euros, and therefore this type of insurance will provide the company with financial security and stability.
marine cargo and passenger terminals;
companies providing vessel support services;
vessel repair companies;
contractors carrying out work in port or at sea (e.g. port deepening, diving services);
recreational craft operators;
operators of exploration vessels;
recreational boat tours operators.
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