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BAR insurance covers loss of, or damage to, the hull and machinery of vessels under construction. In addition to this, cover is also provided for loss of, or damage to, property belonging to others and for death or personal injury caused to third parties during construction, including sea trials.

Cargo insurance is inland or ocean marine insurance covering property in transit.

Project cargo insurance policies are primarily designed to cover physical losses or damages to specific cargo (usually large modules, plant or equipment) in transit. They can also protect against consequential losses resulting from the interruption of the project, including the loss of earnings due to a delay in the project’s commercial operation (“delay in start-up” or “DSU”).

Where cargo is subject to longer-term storage risks (in excess of 60-90 days) alternative coverage may be found in the Specie market which has a different appetite to those writing Cargo in Transit.

The shipping industry operates in a liability environment. These days, it has become more legislative thanks to the increasing amounts of regulations on pollution and safety. There are a wide range of covers that protect Charterers against various risks they face either through contractual indemnities and liabilities, or to other third parties.

Construction All Risks Insurance (CAR) offers comprehensive protection against loss or damage in respect of the contract works, construction plant, equipment and machinery, as well as against third-party claims in respect of property damage or bodily injury arising in connection with the building and execution of a construction project.

CAR insurance may be taken up by the investor or principal or by the contractors engaged in a project, including all subcontractors. This insurance provides an “all risks” coverage therefore in principle every risk is covered which is not specifically excluded by the policy arranged.

There are Crew insurances that provide a wide range of covers for Ship’s Crews whilst they are working at sea and also whilst ashore. Full 365-day coverage provides a comprehensive health insurance plan for Crew no matter where they are when they require treatment. Coverage can be extended to cover Sea Going Partners and Dependents at Home.

This is a highly bespoke type of coverage for a range of marine delay risks, including but not limited to:

• Delays caused by navigational incidents.
• Delays due to port congestion.
• Delays due to adverse weather conditions.
• Delays caused by strikes or other labour disputes.
• The delay caused by vessel hijacking or piracy.
• Delays due to customs issues or other regulatory requirements.

Unlike LOH cover, there does not have to be damage caused the insured vessel as a precursor to a claim.

Marine H&M insurance covers the Insured against the risk of physical damage to their vessel, her machinery and equipment caused by a peril of the seas or other specified perils while she is in the water. It interacts with P&I insurance in the areas of collision liability and liability for contact damage to third party property. In addition to basic H&M insurance, there are a number of sub-categories of insurance which can be taken out in order to protect the Insured’s interest in the vessel as an asset, such as War risks, Increased value (IV) and Loss of Hire (LOH) cover.

Marine equipment insurance covers all manner of mobile equipment which can be deployed offshore equipment including but not limited to:

• ROV’s & AUV’s
• Trenching & Pipe/Cable Laying
• GeoTechnical equipment
• Drilling Equipment (E&P)
• Decommissioning and P&A
• Seismic
• Wave & Tidal (for power generation or monitoring/data gathering)

Offshore liability insurance covers the liabilities of operators of offshore structures or contractors working on them, including liabilities arising from pollution incidents, third party legal liabilities, contractual liabilities, subcontractors cover and protective indemnity.

Businesses in the shipping space are exposed to all manner of risks, which may not fit into the suite of ‘traditional’ insurance products available from the market. Our Special Risks team have a track record of creating tailor made solutions for exposures to property, people or balance sheet including but not limited to:

• Deductible Buy Down
• Delay/Non-Delivery
• Contract Frustration and/or Penalties
• Enhanced Business Interruption
• Refund Guarantee
• Consequential Loss
• Contingency Expenses
• Voyage and Towage Risks
• Mortgagees/Banks Exposure

Offshore liability insurance covers the liabilities of operators of offshore structures or contractors working on them, including liabilities arising from pollution incidents, third party legal liabilities, contractual liabilities, subcontractors cover and protective indemnity.

Operators extra expense (OEE) is a specialized policy available to oil or gas well operators that covers the cost of regaining control of a wild well. Coverage for pollution, stuck drill stem, evacuation expense, and care, custody, or control (CCC) exposures can be added by endorsement.

Aside from damage to vessels, companies engaged in shipping and offshore activities may also be exposed to additional expenses resulting from acts of Piracy and/or extortion. Cover is available which provides response services in the immediate aftermath of an event as well as indemnity for additional costs incurred as a result of a piracy event.

Protection for companies involved in the carriage, handling or storage of cargo against first party property and equipment risks, and third party legal liabilities arising out of the conduct of their business, shore-side operations for the handling and storage of cargo.

Any party offering professional services to transport operators in the marine, aviation and rail industries – whether providing advice, information, designs, consultancy, or similar services – owes a duty of care to its customers. Even if a business uses subcontractors, they are liable for the work they produce. Professional indemnity insurance provides cover for claims brought against Insureds for losses suffered by their customers as a result of their negligence or error and omission. These claims can extend to subcontracted services for which they were the agent, representative or lead contractor.

This insurance, usually referred to as “P&I,” provides cover to shipowners, operators, and charterers for third-party liabilities encountered in the commercial operation of entered vessels. The main risks covered are liabilities, expenses, and costs for:

• Loss of life, injury and illness of crew, passengers, and other persons
• Cargo loss, shortage, or damage
• Collision
• Damage to docks, buoys and other fixed and floating objects
• Wreck removal
• Pollution
• Fines and penalties
• Mutiny and misconduct by crew
• Crew repatriation and substitution
• Damage to property on board the insured vessel
• Quarantine
• Vessel Diversion Expenses
• Unrecoverable General Average contributions
• Vessel’s proportion of General Average

Coverage can also be purchased for legal expenses relating to Freight, Demurrage & Defence (“FD&D”) claims.

Cover for, loss of/damage to assets, Third Party Liability, Construction All Risks, Delay in Startup and Business Interruption for Renewables Projects (Onshore & Offshore)

Marine War and related Risks Insurance, buys back coverage normally excluded under H&M and P&I policies as a result of the following perils:

• War, civil war, revolution, rebellion, insurrection, and civil strife resulting therefrom.

• Torpedoes, mines and all weapons of war, whether derelict or not.

• Capture, taking at sea, arrest, seizure, restraint or detainment by any government or other authority.

• Riots, civil commotion, strikes, lockouts and other similar labour disturbances.

• Piracy. Malicious acts or vandalism, in each case from a political motive or related to war.

• Acts of sabotage or terrorism, in each case, from a political motive or related to war.

In addition, War Insurance has a separate independent limit for liability risks. There is also ‘blocking and trapping’ cover included for when an Insured is deprived of the use of the vessel for a prolonged period of time. The extent of cover under a War policy can include all the following H&M and P&I risks:

• H&M

• Loss of Hire

• Hull Interest/Disbursements

• Freight Interest

• Collision Liability

• General Average

• P&I Liabilities