This product provides coverage for physical loss or damage to scheduled vessels, as per policy conditions on a named peril basis. It also provides coverage for Collision Liability up to the agreed value of the vessel. Coverage is provided on standard industry forms and pre-approved manuscript wordings. Classes of vessels covered include: containerships, tankers and bulk carriers, and other classes of vessels over 2,500 Gross Registered Tons.

Mortgagee’s Interest

Insures marine lenders against the nonpayment by hull underwriters when the nonpayment results from any act of, or omission by, the Assured named in the hull policy or from breach of warranty in the hull policy.

Hull Builder’s Risks

Hull Builder’s Risks coverage insures the builder or owner against physical loss or damage to vessels during the construction period. The policy also covers collision liability and protection and indemnity exposures during trial trips, and coverage can be extended to cover delivery trips. Coverage is provided on standard industry forms, and limits are offered on per vessel and/or per yard basis.

Hull War Risks

Insures the war and other risks excluded from marine hull policies by the “War, Strikes, and Related Exclusions” clause or the equivalent in forms other than the American Institute Hull Clauses.

Increased Value & Excess Liabilities

Insures a portion of the vessel’s value and corresponding liabilities as covered by the hull form on a total loss only (TLO) basis.

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