Marine General Liability
At Intl. Broking Solutions, Corp (IBSCorp) we help our clients obtain support for marine liability claims that may arise from bodily injury or property damage caused by direct or indirect actions of the insured.
Designed to provide (re)insurance coverage for a wide variety of marine businesses, the CML – Comprehensive Marine Liability placements can be obtained as a monoline liability policy, combined with other forms of marine liability or as part of a package approach.
The CML covers the operations, contractual liabilities and products/completed operations liability exposures.
The following is only a small sample of the many businesses that may qualify:
|Commercial Boat Builders
||Marine Artisan Contractors
|Ship Repair Yards
Intl. Broking Solutions, Corp (IBSCorp) can tailor this product to meet the unique needs of the Insured. Multiple coverages can be consolidated into one package policy.
Available Coverages Includes:
Hired / Non-owned Auto Liability
Building, Contents and Business Income & Extra Expense
Pollution Physical Damage
Marine Builders’ Risk
Building of a new vessel is always a serious project that requires substantial sums. Marine Builders’ Risk (re)insurance enables your client to protect themselves against loss of investments.
The cover placement obtain commences with laying of the keel, continues through the period of building, sea trials and ends with delivery of the ready vessel.
- Damage or loss (total or constructive) during the period of building, trials and putting afloat
- Building defects
- General Average and salvage of the vessel
- Expenses aimed at preventing, minimizing of loss and assessment of the damage extent
Premium is calculated on the basis of future vessel specification: type, measurements, contractual value, building period etc. It is very important to get the information on the shipyard experience in similar projects and any accidents that occurred earlier on the site.
Ship Repairers Legal Liability (SRLL)
Shiprepairers’ Liability (Re)insurance is aimed to cover financial liability of a shipyard that may arise from loss of or damage to a vessel in the course of repair or building works. Liability arising out of the care, custody and control of vessels under repair by the policyholder
This (Re)insurance cover protects Shipbuilder in case of a damage to vessel’s machinery and equipment, while she is under supervision of shipyard. The cover also includes bodily injuries to third parties.
Often Shiprepairers’ Liability Insurance is obligatory according to contracts signed between shipyards and their clients.
Charterer’s Legal Liability
(Re)insures vessel charterers’ liability for bodily injury and property damage assumed under a charter party. This marine policy is designed for vessel charterers and provides coverage for the charterer’s legal or contractual obligation to a vessel owner as specified in a charter agreement. This coverage typically addresses liability exposures such as hull damage, safe berth, loading, unloading and stowage of cargo, damage to berthing facilities and other vessels and loss of life or bodily injury to third parties resulting from acts of the charterer. Coverage can also be included for liability for cargo carried on the vessel for third parties.
Stevedores’ Legal Liability
Stevedores Legal Liability gives stevedores care, custody, and control coverage for damage to non-owned vessels and cargo while loading or unloading. This marine policy provides liability coverage for stevedores arising out of the loading and unloading of a vessel and includes coverage for physical loss or damage to the property of others while in the Insured’s care, custody & control. This coverage is typically combined with Comprehensive Marine Liability and/or Wharfinger’s Legal Liability for a complete liability program but can be written monoline if needed.
Wharfingers’ Legal Liability
Cover provides bailee liability coverage to operators of commercial piers and wharves. This marine policy is designed for operators of commercial docks, wharves or piers and provides bailee liability coverage for damage to the vessels, barges, equipment and cargo of others using the Insured’s facility as they load, unload or are docked. This coverage is typically combined with Comprehensive Marine Liability and/or Stevedore’s Legal Liability for a complete liability program but can be written monoline if needed.
Please contact us for discussions regarding the parameters of cover needed