Marine Hull and Protection & Indemnity (P&I)

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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