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Can you imagine how big is claim arise from this casualty?

·    loss or damage to cargo on board the vessel

·    loss or damage to the hull and machinery

·    loss of life or bodily injury

·    pollution

·    salvage sue and labour, removal of wreck

·    legal costs

·    other losses

 

Marine Hull & Machinery Insurance

 

Marine Hull & Machinery Insurance gives comprehensive covers for loss or damage to vessel’s hull and machinery against perils of the seas and navigational perils:

 

It covers loss or damage caused by:

·  perils or seas: heavy weather, grounding, sinking and collision

·  fire and explosion

·  malicious act and theft

·  jettison

·  piracy

·  contact with aircraft

·  earthquake, volcanic eruption, and lightning

·  negligence of master & crews

·  barratry

·  collision liability

·  general average and salvage

·  sue and labour

 

Type of covers:

1. Clause 280: All Risks or full navigational perils

2. Clause 284:Total Loss + GA and ¾ Collision Liability

3. Clause 289:Total Loss Only

 

Protection and Indemnity (P&I)

 

Over hundred years P&I Club is the only organization provide Protection & Indemnity cover, now, insurance company is able to provide one so called Fixed Premium P&I

 

Protection and Indemnity (P&I) covers liabilities to third parties………….

 

  1. CARGO: damage to, loss or shortage of cargo
  2. COLLISION: collision with another vessel
  3. PROPERTY DAMAGE: damage to fixed and floating objects and other property
  4. CREWS CLAIMS: death or injury, repatriation, medical expenses
  5. ILLNESS & INJURY: stevedores, passengers, etc
  6. POLLUTION: oil, other substance, clean-up
  7. OTHER CLAIMS: wreck removal, fine, GA, etc
  8. LEGAL COSTS & EXPENSES: cost of legal disputes and expenses

 

 

Type of Vessels

 

All type vessels are insurable under Hull & Machinery (H&M) and/or under Protection & Indemnity (P&I)

 

  •           General Cargo Ships
  •           Container Ships
  •           Bulk Carriers
  •           Gas Carriers
  •           Passenger Ships
  •           Ferry; Roro
  •           Heavy Lift
  •           Tanker
  •           Tug Boats
  •           Barges
  •           Pilot Boat
  •           Survey & Research Ships
  •           Fishing Ships
  •           Towing & Salvage
  •           Yacht
  •           Speed Boat
  •           War Ships
  •           Etc

 

Classification Society

 

It is a requirement under Hull & Machinery (H&M) and/or Protection & Indemnity (P&I) that vessels must be classed and class maintained under approved or International Classification Society

 

  • * Bureau Veritas (BV) – Est.1828
  • * Lloyd’s Register (LR) – 1834
  • * American Bureau of Shipping (ABS) – 1862
  • * Det Norske Veritas (DN) – 1864
  • * Germanischer Lloyd (GL) – 1867
  • * Nippon Kaiji Kyokai (NK) – 1899
  • * Russian Maritime Register of Shipping (RS) – 1913
  • * China Classification Society (CCS) – 1956
  • * Korean Register (KR) – 1960
  • * Registro Italiano Navale (RINA) – 1861
  • * Indian Register of Shipping (IRS)  – 1975
  • * Biro Klasifikasi Indonesia (BKI) – 1964

 

 

Rating Factors

 

Premium for Hull & Machinery (H&M) or under Protection & Indemnity (P&I) are depending on some underwriting factors:

 

  •    Type of vessels, age, and gross tonnage (GRT)
  •    Number of Fleets
  •    Trading Area or Navigational limit
  •    Classification Society
  •    Type of Cover and Limit of Liability
  •    Management and Ownership
  •    Insurance and Loss Record

 

 

How to Insure?

 

To have Hull & Machinery (H&M) or under Protection & Indemnity (P&I)  are simply write Proposal Form and submit Ship Particular, and Survey (if necessary).

 

To have a quote and further inquiry

 

Please call: +628128079130

Or email: imam.musjab@qbe.co.id

 

 

by IMAM MUSJAB at www.ahliasuransi.com

 

 

Source:

Institute Time Hull Clauses

www.qbe.com