SWINGLEHURST LIMITED. The role of the insurance market in tackling piracy. PAUL AGATE Head of Marine Swinglehurst Limited

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "SWINGLEHURST LIMITED. The role of the insurance market in tackling piracy. PAUL AGATE Head of Marine Swinglehurst Limited"

Transcription

1 SWINGLEHURST LIMITED The role of the insurance market in tackling piracy PAUL AGATE Head of Marine Swinglehurst Limited

2 Introduction to Swinglehurst Ltd. Founded in 1999 Small, independent Lloyd s broker Offices in 12 countries Focus on niche areas of insurance Marine + Contingency

3 Piracy Marine Insurers view Carried out by groups of individuals acting for personal gain, therefore considered Pirates for Marine insurance purposes. At present little suggestion they acting for a political, religious or ideological motive.

4 Insurance risks Hull & Machinery/Loss of Hire Cargo P&I Charterer s Liabilities Kidnap and Ransom

5 Insurance quandaries! It s complicated!! Variance of market clauses Variance of peril Double insurance? Event management

6 Hull Risks (UK Institute Clauses) Institute Time Clauses Hulls (Clause 280) Includes Piracy (Clause ).but now frequently being transferred back to the H & M War policy by Endorsement.

7 Hull Risks (American Clauses) American Institute Hull Clauses (Clause 7) Includes Piracy as a named peril (Line 71) BUT Excludes Piracy in event of Civil War etc. (Line 245) American Institute Hull War Risks & Strikes Clauses (Clause 87B-108) Includes Piracy BUT Marine insurers retain the right to cancel the policy at any time CONSEQUENTLY Shipowners may purchase separate War risks policy to include Piracy risks

8 Cargo London Clauses: Institute Cargo Clauses (A) Institute Cargo Clauses (B) Institute Cargo Clauses (C) Includes Piracy Excludes Piracy Excludes Piracy American Clauses: American Institute Cargo Clauses 32-B10 Bulk Oil Clauses SP13C Excludes Piracy Excludes Piracy

9 Kidnap & Ransom payments is it recoverable? Ransom payments may be recoverable either through a declaration of General Average, Salvage or a Sue & Labour expense. Shipowners & Hull Underwriters (rather than Cargo or P&I Underwriters) will generally deal with any ransom demand in first instance then seek to recover from other interests. Separate insurance cover may be arranged to cover such payments.

10 Hart announcement Benefits of the HART Swinglehurst cover Significant savings Avoid the extra cost of travelling around the Cape of Good Hope Includes violent theft, piracy and barratry within War Risk cover Preservation of record on existing insurance Cover for Loss of Hire/Earnings Financial elements of K&R included Holistic protection financial and physical

11 Application Form Details of vessel, flag, crew, cargo, speed & freeboard required.

12 Cover Note - specimen

13 Press articles

14 Insurance Premium Rates If starting point for physical damage (hull & machinery) cover is 100, then with Hart Security deployed to protect the vessel the rate would currently reduce to i.e. 35/40% reduction. The bonus then extends to include P & I, Loss of Hire plus full Kidnap & Ransom style Event Management.

15 INSURER RESPONSE TEAM AIG Clayton Consultants Inc. Aspen Re AKE Griffin Underwriting HART Security Asset Protection Jersey (APJ) Henderson Risk Limited Travelers Syndicate 5000 ASI Global Response Hiscox Control Risks Group

16 Vessel is attacked If taken, then the vessel is moved to the pirates controlled port where the crew will either remain on board or taken to camps Call is made to the corporate head office Head office to contact response team Response team send consultant to head office and family of victims if required

17 Response consultant sets up a crisis management team who will be responsible for: All communication with the pirates/hijackers All PR with the media Updating and supporting the families of the victims Decision making about the ransom amount

18 At this stage the response consultant will advise the crisis management team on: What to expect from the pirates/hijackers: Demands Threats Pressure tactics employed

19 The response consultant will also advise the crisis management team on: What to say and what not to say to the pirates/hijackers What to say and what not to say to the media Any local legislation that the company must be aware of Liaise with local law enforcement How to support the families through the entire event How to transport the actual cash to the drop off point

20 Step by step guide miller-insurance.com It is important to note that response teams/consultants will not: Break the law Mount rescue missions Publish client names Act as the spokesperson for the company Participate in face-to-face meetings with kidnappers/pirates

21 Thank you! Any questions?

MARINE K&R INSURANCE Frequently Asked Questions

MARINE K&R INSURANCE Frequently Asked Questions Insurance Bulletin Issue 02 - March 2010 MARINE K&R INSURANCE Frequently Asked Questions by Capt. Thomas Brown Over the last three years of product development for this new class of marine insurance we

More information

War Risk and Kidnap & Ransom Covers

War Risk and Kidnap & Ransom Covers War Risk and Kidnap & Ransom Covers Comprehensive Cover. Exceptional Service. War Risk and Kidnap & Ransom Covers The Club can now offer its Members cover for Hull War and P&I War risks, including cover

More information

Hull and Associated Risks

Hull and Associated Risks Hull and Machinery Insurance Who buys this insurance? qüçëé=êéëéçåëáääé=ñçê=íüé=éüóëáå~ä=ïéää=äéáåö çñ=~=îéëëéä=äé=íüéó=püáéçïåéêëi _~êéäç~í=`ü~êíéêéêë=çê=qüáêç=m~êíó j~å~öéêë Costs of repairing physical

More information

War Insurance Conditions for Vessels of 1st January 2006

War Insurance Conditions for Vessels of 1st January 2006 War Insurance Conditions for Vessels of 1st January 2006 These Conditions are approved by the Swedish Transport Insurance Pool and The Swedish Shipowner s Association and are only intended as a guidance.

More information

Marine K&R an above Average Marine Insurance

Marine K&R an above Average Marine Insurance Insurance Bulletin Issue 01 - September 09 ISSUE 01 Marine K&R an above Average Marine Insurance by Capt. Thomas Brown It would appear to the casual observer looking in on the marine insurance industry

More information

INSTITUTE TIME CLAUSES - HULLS DISBURSEMENTS AND INCREASED VALUE (Total Loss only, including Excess Liabilities)

INSTITUTE TIME CLAUSES - HULLS DISBURSEMENTS AND INCREASED VALUE (Total Loss only, including Excess Liabilities) INSTITUTE TIME CLAUSES - HULLS DISBURSEMENTS AND INCREASED VALUE (Total Loss only, including Excess Liabilities) This insurance is subject to English law and practice 1. NAVIGATION 1.1 The subject-matter

More information

MARINE PRODUCTS DIRECTORY

MARINE PRODUCTS DIRECTORY MARINE PRODUCTS DIRECTORY CARGO INSURANCE All risks of physical loss or damage to goods whilst in transit by land, sea and/or air including War, Strikes Riots and Terrorism and Goods in Transit Insurance.

More information

ARSENAL INSURANCE COMPANY MARINE INSURANCE

ARSENAL INSURANCE COMPANY MARINE INSURANCE ARSENAL INSURANCE COMPANY MARINE INSURANCE ABOUT US ARSENAL Insurance Company was founded in 1997 (license No. 3193 FSSN 77 allowing to carry out 17 types of insurance). Equity capital of the company amounts

More information

THE CHARTERED INSURANCE INSTITUTE. Read the instructions on page 3 carefully before answering any questions.

THE CHARTERED INSURANCE INSTITUTE. Read the instructions on page 3 carefully before answering any questions. THE CHARTERED INSURANCE INSTITUTE P90 Diploma in Insurance Unit P90 Cargo and goods in transit insurances October 2015 examination Instructions Three hours are allowed for this paper. Do not begin writing

More information

Unit-2- Marine Insurance

Unit-2- Marine Insurance Unit-2- Marine Insurance Meaning- Procedure of taking marine insurance policy- Difference between fire and marine insurance- clauses of marine insurance policy- marine losses and perils- Types of policy

More information

Piracy Does it give rise to a claim for General Average?

Piracy Does it give rise to a claim for General Average? Piracy Does it give rise to a claim for General Average? Raymond T C Wong 王 德 超 Average Adjuster A vessel with cargo on board is being detained by pirates in Somalia and a ransom of US$3m has been demanded

More information

MARINE HULL INSURANCE CONDITIONS COVERING WAR, PIRACY, TERRORISM AND SIMILAR RISKS

MARINE HULL INSURANCE CONDITIONS COVERING WAR, PIRACY, TERRORISM AND SIMILAR RISKS These clauses are for illustrative purposes only and different terms and conditions may be agreed in particular where any clause excludes losses or makes cover subject to certain conditions. MARINE HULL

More information

Marine Insurance Aspects of Ship Financing

Marine Insurance Aspects of Ship Financing 7 th Annual Marine Money Korea Marine Insurance Aspects of Ship Financing B.S.Park Chief Operating Officer Korea P&I Club bspark@kpiclub.or.kr www.kpiclub.or.kr 1 Insurance Aspects of Securing Shipping

More information

In the United Nations Convention on the Law of the Sea (UNCLOS) of 1982, "maritime piracy" consists of:

In the United Nations Convention on the Law of the Sea (UNCLOS) of 1982, maritime piracy consists of: Piracy FAQs 1. Definitions of piracy (i) UNCLOS Article 101: Definition In the United Nations Convention on the Law of the Sea (UNCLOS) of 1982, "maritime piracy" consists of: (a) any illegal acts of violence

More information

Presentation by. Nigel Carden (UK P&I Club) Chairman, IGP&I Maritime Security Subcommittee

Presentation by. Nigel Carden (UK P&I Club) Chairman, IGP&I Maritime Security Subcommittee International Group of P&I Clubs Piracy and Armed Robbery at Sea How Best to Protect Seafarers PIRACY and P&I INSURANCE Presentation by Nigel Carden (UK P&I Club) Chairman, IGP&I Maritime Security Subcommittee

More information

Prepared for Members and Committees of Congress

Prepared for Members and Committees of Congress Prepared for Members and Committees of Congress Œ œ Ÿ Many Members of Congress are concerned about the sharp rise in pirate attacks in the strategic waterways in the Gulf of Aden off the East coast of

More information

Marine Insurance. Course Contents

Marine Insurance. Course Contents Marine Insurance Course Contents Introduction The importance of the shipping industry to the global economy is rarely fully appreciated, particularly by those who often take for granted the availability

More information

Chapter 2 The Marine Insurance Act 1906

Chapter 2 The Marine Insurance Act 1906 Chapter 2 The Marine Insurance Act 1906 Insurance through a broker Book says broker costs nothing to assured Not entirely correct as brokerage is an expense for underwriter in the product he is offering,

More information

DIVE BOAT LIABILITY INSURANCE

DIVE BOAT LIABILITY INSURANCE DIVE BOAT LIABILITY INSURANCE SHIPOWNERS WE UNDERSTAND THE DIVE BOAT BUSINESS Quality insurance for the needs of dive boat owners, operators and managers Specialist If it matters to you that your insurers

More information

SYLLABUS OF SPECIALISED DIPLOMA ON MARINE BRANCH

SYLLABUS OF SPECIALISED DIPLOMA ON MARINE BRANCH SYLLABUS OF SPECIALISED DIPLOMA ON MARINE BRANCH SUBJECT CODE IC 66 IC 60 IC 70 SUBJECT NAME MARINE INSURANCE CLAIMS (Marine Specialised diploma) MARINE CARGO INSURANCE (Marine Specialised diploma) MARINE

More information

MARINE INSURANCE. F.O.R. (Free on Rail) This is same as F.O.B. but it concerns mainly the internal trade transactions.

MARINE INSURANCE. F.O.R. (Free on Rail) This is same as F.O.B. but it concerns mainly the internal trade transactions. MARINE INSURANCE Introduction of the subject: Importance of Marine insurance in commerce; Marine insurance plays a very important role in the field of overseas commerce and internal trade of a country.

More information

Marine Practice. Piracy the insurance implications

Marine Practice. Piracy the insurance implications Marine Practice Piracy the insurance implications Piracy in the Indian Ocean and elsewhere continues to be a major ongoing concern to the shipping industry. Although the human cost to seafarers and the

More information

The Shipowners Club Dive Boat Liability Insurance. Know your cover

The Shipowners Club Dive Boat Liability Insurance. Know your cover The Shipowners Club Dive Boat Liability Insurance Know your cover The Shipowners Club Dive Boat Liability Insurance Know your cover This Know your cover is intended to provide general guidance for our

More information

APPENDIX / ANHANG (as per 01.04.2014)

APPENDIX / ANHANG (as per 01.04.2014) APPENDIX / ANHANG (as per 01.04.2014) to the General Insurance Conditions of Hanseatic P&I - Shipowner s Liability (as per 15.01.2010), Charterer s Liability (as per 01.05.2005) and Inland Craft Liability

More information

Loss of Hire Cover. Risk solutions covering loss of income following physical damage to a vessel

Loss of Hire Cover. Risk solutions covering loss of income following physical damage to a vessel Loss of Hire Cover Risk solutions covering loss of income following physical damage to a vessel Providing the widest range of risk solutions 02 In a world of increasing complexity, Gard s objective is

More information

About Us. Our Mission

About Us. Our Mission Maritime Insurance Our goal at Osprey Insurance Brokers is to provide complete marine insurance to meet all of your needs even in this growing and innovating industry. Experts believe risk mitigation will

More information

Marine. EssEntial health, injury, baggage & abandonment cover for your crew

Marine. EssEntial health, injury, baggage & abandonment cover for your crew Marine EssEntial health, injury, baggage & abandonment cover for your crew www.crewsure.com Effective 01.10.2012 KEY FEATURES Medical expenses. Accidents causing death or permanent disability. Baggage

More information

MARINE LIABILITY PRODUCTS

MARINE LIABILITY PRODUCTS MARINE LIABILITY PRODUCTS www.prosightspecialty.com/marine Tim McAndrew tmcandrew@prosightspecialty.com 212-551-0618 Tom Zdrojeski tzdrojeski@prosightspecialty.com 212-551-0623 Robert Palmer rpalmer@prosightspecialty.com

More information

Choosing the Right Yacht Insurance

Choosing the Right Yacht Insurance Choosing the Right Yacht Insurance Yacht Insurance Superyachts are probably the most advanced and complex assets one can have the privilege of owning. Unquestionably, as a future Owner, you have, probably,

More information

Insurance Options to Protect Against Supply Chain Losses

Insurance Options to Protect Against Supply Chain Losses Insurance Options to Protect Against Supply Chain Losses Tim Garrett, Cargo Underwriter, AF Beazley Syndicate Rupert Sawyer, Divisional Director, RKH Specialty SUPPLY CHAIN INSURANCE PART 1: Physical loss

More information

The American Club. P&I CONSIDERATIONS ON SALVAGE SCOPIC Dorothea Ioannou

The American Club. P&I CONSIDERATIONS ON SALVAGE SCOPIC Dorothea Ioannou The American Club P&I CONSIDERATIONS ON SALVAGE SCOPIC Dorothea Ioannou Salvage and SCOPIC: What is it? What is SCOPIC? SPECIAL COMPENSATION PROTECTION & INDEMNITY CLAUSE History Traditionally Salvage

More information

Household Goods & Personal Effects Proposal Form B (iii) Insurance of Personal Effects in Barrels

Household Goods & Personal Effects Proposal Form B (iii) Insurance of Personal Effects in Barrels Household Goods & Personal Effects Proposal Form B (iii) Insurance of Personal Effects in Barrels Restricted Cover This Insurance is restricted and covers only risks of loss and/or damage as a result of

More information

Gard AS, September 2005 1

Gard AS, September 2005 1 p&i Gard s CGL offshore cover for supply vessels and specialist craft The purpose of the cover afforded by the Association is to make available a comprehensive insurance package to meet most of the liabilities

More information

YACHT LIABILITY INSURANCE KNOW YOUR COVER

YACHT LIABILITY INSURANCE KNOW YOUR COVER YACHT LIABILITY INSURANCE KNOW YOUR COVER YACHTOWNERS YACHT LIABILITY INSURANCE KNOW YOUR COVER This Know your cover is intended to provide general guidance for our Yacht Liability Insurance policy. They

More information

HULL & MACHINERY MARINE INSURANCE AND SHIPOWNER'S LIABILITY GUTA-INSURANCE. FOR ALL OCCASIONS

HULL & MACHINERY MARINE INSURANCE AND SHIPOWNER'S LIABILITY GUTA-INSURANCE. FOR ALL OCCASIONS HULL & MACHINERY MARINE INSURANCE AND SHIPOWNER'S LIABILITY 2013 GUTA-INSURANCE. FOR ALL OCCASIONS 2 About the Company Company s profile CJSC "GUTA-Insurance" was established in 1994. In the nineteen years

More information

Assessment of Maritime Insurance on the NSR

Assessment of Maritime Insurance on the NSR Assessment of Maritime Insurance on the NSR Background Hull & Machinery (H&M) insurance protects the shipowner for losses from damage to the ship and its equipment; Protection & Indemnity (P&I) insurance

More information

K.M. Dastur Reinsurance Brokers Pvt. Ltd.

K.M. Dastur Reinsurance Brokers Pvt. Ltd. Marine Hull Insurance & Reinsurance From K.M.Dastur Reinsurance Brokers Private Ltd., Mumbai Website: www.kmdastur.com Marine Hull Insurance Introduction to Hull Insurance Fundamental Principles i of Hull

More information

Marine insurance, the individual types

Marine insurance, the individual types Marine insurance, the individual types ProfessorTrine-Lise Wilhelmsen Scandinavian institute of maritime law Overview o Hull insurance o Total loss insurances owar insurance o Loss of hire insurance o

More information

International Marine Insurance Conference - The Challenges Presented by a Major Marine Disaster

International Marine Insurance Conference - The Challenges Presented by a Major Marine Disaster International Marine Insurance Conference - The Challenges Presented by a Major Marine Disaster Clothworkers' Hall, EC3, Tuesday 12 April 2011 Clyde & Co s true focus continues to be Marine Insurance,

More information

YACHTING AUSTRALIA INC. OVERSEAS TRANSIT AND RACING INSURANCE PROPOSAL FORM

YACHTING AUSTRALIA INC. OVERSEAS TRANSIT AND RACING INSURANCE PROPOSAL FORM YACHTING AUSTRALIA INC. OVERSEAS TRANSIT AND RACING INSURANCE PROPOSAL FORM INSURER: NAUTILUS MARINE INSURANCE AGENCY PTY LTD (ABN 34 100 633 038) 1. INSURED(S): 28-32 George Street, Sandringham VIC 3191

More information

Piracy General Average & Insurance

Piracy General Average & Insurance Leena B Mody (Sr. General Manager, J. B. Boda & Co. Pvt. Ltd.) Piracy General Average & Insurance Shipping industry has seen ransom demands made by pirates soaring to tens of millions, and vessels being

More information

INSTITUTE OF CHARTERED SHIPBROKERS MARINE INSURANCE

INSTITUTE OF CHARTERED SHIPBROKERS MARINE INSURANCE INSTITUTE OF CHARTERED SHIPBROKERS APRIL 2008 EXAMINATIONS WEDNESDAY 30 APRIL AFTERNOON MARINE INSURANCE Time allowed Three hours Answer any FIVE questions All questions carry equal marks 1. Discuss the

More information

Territories Domestic and worldwide

Territories Domestic and worldwide Marine Cargo Globalisation has resulted in a large increase in trade between countries and intercontinental trade requires specific risk management solutions which Liberty Specialty Markets can provide.

More information

AIDA WORLD CONGRESS 2014 ROME Marine Insurance Working Party

AIDA WORLD CONGRESS 2014 ROME Marine Insurance Working Party AIDA WORLD CONGRESS 2014 ROME Marine Insurance Working Party Preventive Measures: Costs for sacrificing of insured property to prevent further loss (such as oil pollution, or ransom fee for the piracy)

More information

Introduction to. Kidnap+ Ransom. Insurance

Introduction to. Kidnap+ Ransom. Insurance Introduction to Kidnap+ Ransom Insurance Introduction Today s world has seen a number of factors combining to shape an ever-changing investment environment - especially in emerging markets. This backdrop

More information

DIVE BOAT LIABILITY INSURANCE KNOW YOUR COVER

DIVE BOAT LIABILITY INSURANCE KNOW YOUR COVER DIVE BOAT LIABILITY INSURANCE KNOW YOUR COVER ii Dive Boat Liability Insurance Know your cover SHIPOWNERS DIVE BOAT LIABILITY INSURANCE KNOW YOUR COVER This Know your cover is intended to provide general

More information

Commercial Property Construction Property and Civil Works War, Terrorism and Political Violence

Commercial Property Construction Property and Civil Works War, Terrorism and Political Violence Commercial Property Construction Property and Civil Works War, Terrorism and Political Violence Commercial Property Product updates Increased capacity: up to $10M (inclusive of full CAT), available on

More information

SUE AND LABOUR. 24 February 2010 4242608.1 LILLEHAMMER 2010 GRAEME BAIRD CLYDE & CO LLP

SUE AND LABOUR. 24 February 2010 4242608.1 LILLEHAMMER 2010 GRAEME BAIRD CLYDE & CO LLP SUE AND LABOUR LILLEHAMMER 2010 GRAEME BAIRD CLYDE & CO LLP 24 February 2010 Legal concepts associated with the shipping industry General Average Hague Visby Rules Clause Paramount Maritime Liens Tonnage

More information

MARINE INSURANCE CONDITIONS COVERING LOSS OF INCOME OF SEA-GOING VESSELS

MARINE INSURANCE CONDITIONS COVERING LOSS OF INCOME OF SEA-GOING VESSELS These clauses are for illustrative purposes only and different terms and conditions may be agreed in particular where any clause excludes losses or makes cover subject to certain conditions. MARINE INSURANCE

More information

The Role of a Lead Marine Insurance Market in the Maritime Cluster

The Role of a Lead Marine Insurance Market in the Maritime Cluster The Role of a Lead Marine Insurance Market in the Maritime Cluster IMSF Annual Meeting 2012 - Oslo Helle Hammer Managing Director About Cefor Our Mission: To serve the interests of our Nordic members by

More information

Marine Professional Negligence Insurance

Marine Professional Negligence Insurance Marine Professional Negligence Insurance PROPOSAL FORM for MarINE ProfESSIoNalS and logistics Details of applicant 1. Company name, address and contact details Postcode 2. Subsidiary, affiliated or associated

More information

War Risk Insurance 2015

War Risk Insurance 2015 Marine 405/2014 18 December 2014 War Risk Insurance 2015 The terms for War Risk Insurance for 2015 are outlined in this circular. The Association will continue the process of streamlining the cover to

More information

Scandinavian Maritime Law

Scandinavian Maritime Law Thor Falkanger - Hans Jacob Bull Lasse Brautaset Scandinavian Maritime Law The Norwegian Perspective Universitetsforlaget Contents 1 INTRODUCTION 23 1.1 What is maritime law? 23 1.2 The unique characteristics

More information

MARINE INSURANCE GUIDELINES

MARINE INSURANCE GUIDELINES MARINE INSURANCE GUIDELINES What is Marine Insurance? Marine Insurance, is a contract whereby for a consideration stipulated to be paid by one interested in a ship or cargo that is subject to the risks

More information

Transport insurance Guide

Transport insurance Guide Transport insurance Guide Whether you are buying or selling goods from or to the international market, there is always a risk that they may be damaged, lost or delayed in transit. Most people in the supply

More information

Copyright: Univan Ship Management Ltd.

Copyright: Univan Ship Management Ltd. Outsourcing Ship Management Should Owners Do It? Technical management may be : An in-house function for a Ship Owner OR Out-sourced to a third-party Ship Manager. The Owner s Musts : 1. Anticipate operating

More information

THINKING RELOCATION? THINK INTERDEAN. Lump Sum Insurance Documentation. We make it easy.

THINKING RELOCATION? THINK INTERDEAN. Lump Sum Insurance Documentation. We make it easy. THINKING RELOCATION? THINK INTERDEAN. Lump Sum Insurance Documentation We make it easy. INSURANCE GUIDANCE NOTES Here at Interdean, you can be assured that every care is taken by us to protect your goods

More information

LESSON NINETEEN MARINE INSURANCE

LESSON NINETEEN MARINE INSURANCE LESSON NINETEEN MARINE INSURANCE Insurance is a means of protection against loss, whereby the cost of the loss, which would otherwise fall upon the owners, is taken over by the insurer. The document embodying

More information

Protection & Indemnity Insurance 2016/2017 Part 2 final

Protection & Indemnity Insurance 2016/2017 Part 2 final P&I 2608/2016 15 January 2016 Protection & Indemnity Insurance 2016/2017 Part 2 final This is the second circular letter in respect of 2016/2017 policy year including updated information. The information

More information

SHIPOWNER'S PROTECTION AND INDEMNITY RULES

SHIPOWNER'S PROTECTION AND INDEMNITY RULES SHIPOWNER'S PROTECTION AND INDEMNITY RULES 1. GENERAL STIPULATIONS. 1.1. Investflot Insurance Company (the Insurer), on the terms of the present Rules, insures shipowner's liability for damage incurred

More information

UK Key Facts 2015. Key Facts. Comprehensive risk management services worldwide. The Allianz experts for Corporate and Specialty Risks

UK Key Facts 2015. Key Facts. Comprehensive risk management services worldwide. The Allianz experts for Corporate and Specialty Risks Allianz Global Corporate & Specialty www.agcs.allianz.com Key Facts UK Key Facts 2015 April 2015 Comprehensive risk management services worldwide The Allianz experts for Corporate and Specialty Risks Allianz

More information

Advent Syndicate 780 Advent Syndicate 780 www.adventgroup.co.uk

Advent Syndicate 780 Advent Syndicate 780 www.adventgroup.co.uk Advent Syndicate 780 Facts and information 2010 Advent Capital (Holdings) PLC is a wholly owned subsidiary of Fairfax Financial Holdings Limited. At 30 September 2009 Fairfax held over US$22 billion of

More information

Allianz Global Corporate & Specialty Hull, Protection & Indemnity and Marine Liability Insurance

Allianz Global Corporate & Specialty Hull, Protection & Indemnity and Marine Liability Insurance Allianz Global Corporate & Specialty Hull, Protection & Indemnity and Marine Liability Insurance Comprehensive cover, flexible solutions Allianz Global Corporate & Specialty at a glance Full range of products

More information

List of courses approved under Maritime Cluster Fund 30% Course Fee Subsidy for non-examinable courses

List of courses approved under Maritime Cluster Fund 30% Course Fee Subsidy for non-examinable courses List of courses approved under Maritime Cluster Fund 30% Course Fee Subsidy for non-examinable courses August Energy Pte Ltd Feb Bunker Course : Challenges & Opportunities 24 25 Feb S$1,300.00 Course Cancelled

More information

INSTITUTE CARGO CLAUSES (A)

INSTITUTE CARGO CLAUSES (A) Bajaj Allianz General Insurance Company Limited Issuing Office MARINE INSURANCE POLICY INSTITUTE CARGO CLAUSES (A) RISKS COVERED 1. Risks Clause This insurance covers all risks of loss of or damage to

More information

PROTECTION & INDEMNITY INSURANCE

PROTECTION & INDEMNITY INSURANCE PROTECTION & INDEMNITY INSURANCE Whereas Hull & Machinery insurance covers shipowners against loss of or damage to their own ship, Protection & Indemnity Insurance (P&I) protects the Owner for his / her

More information

AMICA N.V. - CHARTERERS LIABILITY POLICY WORDING (09/2009)

AMICA N.V. - CHARTERERS LIABILITY POLICY WORDING (09/2009) AMICA N.V. - CHARTERERS LIABILITY POLICY WORDING (09/2009) COVER NOTE CHARTERERS LIABILITY FREIGHT, DEMURRAGE AND DEFENCE BUNKERS CARGO OWNERS LEGAL LIABILITY CLAUSE PARAMOUNT This insurance, as per the

More information

POLICY 4th Edition 1 January 2015

POLICY 4th Edition 1 January 2015 POLICY 4th Edition 1 January 2015 POLICY TERMS AND CONDITIONS 4th Edition 1 January 2015 Managers: Tindall Riley & Co Limited, trading as Carina Managers Registered in England and Wales Registered address:

More information

MARINE INSURANCE COURSE 2016 PROGRAMME

MARINE INSURANCE COURSE 2016 PROGRAMME MARINE INSURANCE COURSE 2016 PROGRAMME WHO IS THE CII? The Chartered Insurance Institute (CII) is the world s leading professional organisation for insurance and financial services. It has more than 112,000*

More information

Examination Guide THE CHARTERED INSURANCE INSTITUTE LM2. Award in London Market Insurance. Unit 2 London Market insurance principles and practices

Examination Guide THE CHARTERED INSURANCE INSTITUTE LM2. Award in London Market Insurance. Unit 2 London Market insurance principles and practices THE CHARTERED INSURANCE INSTITUTE LM2 Award in London Market Insurance Unit 2 London Market insurance principles and practices Based on the 2013/14 syllabus examined from 1 September 2013 to 31 December

More information

SPECIALIST OFFSHORE PACKAGES KNOW YOUR COVER

SPECIALIST OFFSHORE PACKAGES KNOW YOUR COVER SPECIALIST OFFSHORE PACKAGES KNOW YOUR COVER SHIPOWNERS SPECIALIST OFFSHORE PACKAGES KNOW YOUR COVER This Know your cover is intended to provide general guidance for the Club s Specialist Offshore Packages.

More information

GENERAL CONDITIONS FOR INSURANCE OF GOODS Effective as of and including 1 April 2000 (amended 1 January 2007)

GENERAL CONDITIONS FOR INSURANCE OF GOODS Effective as of and including 1 April 2000 (amended 1 January 2007) GENERAL CONDITIONS FOR INSURANCE OF GOODS Effective as of and including 1 April 2000 (amended 1 January 2007) These conditions are adopted by the Swedish Association of Marine Underwriters and are only

More information

Prefect Professional Liability Insurance for Educational Establishments

Prefect Professional Liability Insurance for Educational Establishments PROPOSAL FORM Prefect Professional Liability Insurance for Educational Establishments Important tice 1. This is a proposal for a contract of insurance, in which Proposer or you/your means the individual,

More information

INSTITUTE CARGO CLAUSES (A)

INSTITUTE CARGO CLAUSES (A) 1/1/ 83 (FOR USE ONLY WITH THE NEW MARINE POLICY FORM) INSTITUTE CARGO CLAUSES (A) RISKS COVERED 1. This insurance covers all risks of loss of damage to the subject-mattter insured except as provided in

More information

OPERATIONS SEAFARER CERTIFICATION GUIDANCE NOTE SA MARITIME QUALIFICATIONS CODE. Deck: Personnel Management and Ship Masters Business (Fishing)

OPERATIONS SEAFARER CERTIFICATION GUIDANCE NOTE SA MARITIME QUALIFICATIONS CODE. Deck: Personnel Management and Ship Masters Business (Fishing) Personnel Management and Page 1 of 8 Compiled by Approved by Chief Examiner Qualifications Committee 27.09.2013 OPERATIONS SEAFARER CERTIFICATION GUIDANCE NOTE SA MARITIME QUALIFICATIONS CODE Deck: Personnel

More information

Hurricane Preparation and Response Insurance & Risk Management AAPA

Hurricane Preparation and Response Insurance & Risk Management AAPA Hurricane Preparation and Response Insurance & Risk Management December 6-7, 2012 AAPA Miami, Florida Risk Management Pre Loss Planning What to do before a loss: Identification of insurance policies that

More information

KIDNAP, RANSOM & EXTORTION

KIDNAP, RANSOM & EXTORTION KIDNAP, RANSOM & EXTORTION I N S U R A N C E * W O R L D W I D E C O V E R A G E PROTECT yourself & your family against the unexpected. Company Profile We are an independent insurance broker with over

More information

M a r i n e Claims Team - Europe

M a r i n e Claims Team - Europe M a r i n e Claims Team - Europe The Navigators Marine Claims team offers a wealth of knowledge and experience covering all areas of Marine insurance. Our professionals have a depth of experience and the

More information

Pantaenius Superyacht Clauses

Pantaenius Superyacht Clauses Pantaenius Superyacht Clauses PSYC 21162/MC/0111 These Pantaenius Superyacht Clauses have been designed specifically for Superyachts. The Insurance Agreement 1. The Insured, the Insurer and Pantaenius:

More information

Catlin UK. Specialist Insurance

Catlin UK. Specialist Insurance Catlin UK Specialist Insurance Catlin is one of the world s leading specialist insurers and reinsurers, with more than 50 offices in 25 countries. Big on service No.1 Our claims handling service is consistently

More information

Defense and settlement costs associated with litigation brought against owners of commodities.

Defense and settlement costs associated with litigation brought against owners of commodities. AON Robert dev. Frierson Secretary, Board of Governors of the Federal Reserve System 20 th Street and Constitution Avenue, NW., Washington, DC 20551 Re: Advanced Notice of Proposed Rule Making - Federal

More information

Galleon Marine Insurance Agency 37/39 Lime Street, London, EC3M 7AY United Kingdom +44 (0)20 7398 3310 contactus@galleon.uk.com www.galleon.uk.

Galleon Marine Insurance Agency 37/39 Lime Street, London, EC3M 7AY United Kingdom +44 (0)20 7398 3310 contactus@galleon.uk.com www.galleon.uk. Galleon Marine Insurance Agency PRODUCT SUMMARY PROFESSIONAL INDEMNITY COVER Service providers to the shipping, transport and oil & gas sectors, Including: Ship agents Ship brokers Ship managers Lloyd's

More information

SHIPPING MARINEOFFSHORE MALAYSIA OIL & GAS PORTS &HARBOURS DISPUTES FOREIGN JUDGMENT INSURANCE ENFORCEMENT ARREST

SHIPPING MARINEOFFSHORE MALAYSIA OIL & GAS PORTS &HARBOURS DISPUTES FOREIGN JUDGMENT INSURANCE ENFORCEMENT ARREST SHIPPING PORTS &HARBOURS SHIPBUILDING ADMIRALTYLEGAL TRADE SHIPFINANCE FPSO CHARTERPARTY DEMURRAGE INJUNCTIONS SALVAGE FOREIGN JUDGMENT INSURANCE ARBITRATION MEDIATION COLLISIONS ENFORCEMENT ARREST MALAYSIA

More information

YACHT & MOTOR BOAT INSURANCE PROPOSAL FORM. Name of Vessel : Type : Date of Purchase : Tonnage (T.M.) : Price Paid : When Built : Builders Name :

YACHT & MOTOR BOAT INSURANCE PROPOSAL FORM. Name of Vessel : Type : Date of Purchase : Tonnage (T.M.) : Price Paid : When Built : Builders Name : YACHT & MOTOR BOAT INSURANCE PROPOSAL FORM Name of Vessel : Type : Date of Purchase : Tonnage (T.M.) : Price Paid : When Built : Builders Name : Length : O.A. W.I. Beam : Draft Material of Hull : Sail

More information

Loss of Hire Insurance

Loss of Hire Insurance Loss of Hire Insurance UiO, 27.03.09 By Sveinung Måkestad An extraordinary event for the assured is part of your marine insurer s daily life! Accidents some consequences Damage done Damaged cargo Damage

More information

MultiModal Liability RaetsMarine The fixed premium P&I specialist

MultiModal Liability RaetsMarine The fixed premium P&I specialist MultiModal Liability RaetsMarine The fixed premium P&I specialist MultiModal - Ports & Logistics MultiModal liabilities are the contractual and legal liabilities of the operator in the transport chain

More information

SUPERYACHT INSURANCE KEY FACTS

SUPERYACHT INSURANCE KEY FACTS SUPERYACHT INSURANCE KEY FACTS Key Facts Superyacht Insurance The Horizons presented Baiman Marine Superyacht Policy which will cover you against losses while in commission at sea or inland waters, including

More information

MARITIME and OFFSHORE ENERGY Practice

MARITIME and OFFSHORE ENERGY Practice MARITIME and OFFSHORE ENERGY Practice Quality Service with Excellent Delivery Joseph& Partners ADVOCATES SOLICITORS About Us Joseph & Partners is a reputable law firm in Malaysia with a specialised Maritime

More information

Interim Guidelines for Owners, Operators and Masters for protection against piracy in the Gulf of Guinea region. (To be read in conjunction with BMP4)

Interim Guidelines for Owners, Operators and Masters for protection against piracy in the Gulf of Guinea region. (To be read in conjunction with BMP4) Interim Guidelines for Owners, Operators and Masters for protection against piracy in the Gulf of Guinea region (To be read in conjunction with BMP4) 1. Introduction Piracy and armed robbery (hereafter

More information

Affinity 4WD. Insurance

Affinity 4WD. Insurance Affinity 4WD Insurance Welcome to Affinity 4WD Insurance Affinity Insurance Brokers (Affinity) are pleased to provide you with a motor vehicle insurance policy specifically designed for 4WD owners and

More information

Considerations on Space Liability Insurance

Considerations on Space Liability Insurance Considerations on Space Liability Insurance Philippe Montpert Managing Director, Willis Inspace philippe.montpert@willis.fr IISL/ECSL Symposium Vienna, March 22nd 2010 0 Considerations on Space Liability

More information

Catlin Insurance Company (UK) Ltd, part of the Catlin Group of Companies. Glossary COMMERCIAL MARINE CRISIS MANAGEMENT ASSET PROTECTION

Catlin Insurance Company (UK) Ltd, part of the Catlin Group of Companies. Glossary COMMERCIAL MARINE CRISIS MANAGEMENT ASSET PROTECTION Welcome to Catlin Catlin Insurance Company (UK) Ltd, part of the Catlin Group of Companies Welcome to the Catlin Group of companies, a leading specialty property and casualty insurer operating in more

More information

Motor Breakdown Service Policy Document

Motor Breakdown Service Policy Document Motor Breakdown Service Policy Document Provided by ECCLESIASTICAL INSURANCE SERVICES Motor Breakdown Service SCHEDULE Cover is limited to Private Cars, Motorcycles and Car Derived Vans - Caravanettes,

More information

THE GENERAL UNDERWRITERS AGREEMENT

THE GENERAL UNDERWRITERS AGREEMENT THE GENERAL UNDERWRITERS AGREEMENT This document includes: - An Introduction to the GUA - The GUA Clause and Schedules Document issue: DECEMBER 2006 THE GENERAL UNDERWRITERS AGREEMENT Introduction MWD

More information

Insurance Brokers Professional Liability Proposal Form

Insurance Brokers Professional Liability Proposal Form Insurance Brokers Professional Liability Proposer Details 1. Name of Firm(s) 2. Principal address Postcode Tel No. Website 3. Date Firm Established 4. Please provide details of any subsidiary companies

More information

Online Quote System User Manual

Online Quote System User Manual Rapidquote Online Quote System User Manual Once your broker has signed up to the Rapidquote Online system, our main broker contact will supply us with a list of users, these users will automatically be

More information

RDC and FFO cover and other issues in the. borderlands between H and M and P and I covers. - an appetizer with one or two polite provocations.

RDC and FFO cover and other issues in the. borderlands between H and M and P and I covers. - an appetizer with one or two polite provocations. RDC and FFO cover and other issues in the borderlands between H and M and P and I covers. - an appetizer with one or two polite provocations. Bremen, 30 November 2012 Thomas Bjørn Larsen Senior Vice President,

More information

APPLICATION FORM YACHT LIABILITY INSURANCE POLICY

APPLICATION FORM YACHT LIABILITY INSURANCE POLICY APPLICATION FORM YACHT LIABILITY INSURANCE POLICY APPLICATION FORM Yacht liability insurance policy 1. Contact details Please provide us with the name and contact details of the person/company to be insured.

More information

A reckless disregard for the safety of property and/or human life.

A reckless disregard for the safety of property and/or human life. Definitions Combined Single Limit Insured Legal Liability Natural Person Recklessness Third Party Vessel The maximum liability of the Insurers under this policy in respect of any one incident.this may

More information

Professional Indemnity Insurance Proposal Form For The Design and Consulting Departments of Contractors

Professional Indemnity Insurance Proposal Form For The Design and Consulting Departments of Contractors Professional Indemnity Insurance Proposal Form For The Design and Consulting Departments of Contractors Important Notice 1. This is a proposal for a contract of insurance, in which Proposer or you/your

More information