Marine Insurance

Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo involved in transferring property between origin and destination points. It includes perils of the sea, theft, and natural disasters.

Marine insurance policies protect cargo, ships, terminals, and transport methods. Examples include ocean liners, container ships, and port facilities. Coverage also extends to risks such as shipwrecks, piracy, waves, and earthquakes.

Cargo insurance insures goods transported by sea, like electronics, clothing, and machinery. This protects against loading-related damages, inclement weather, and hijacking.

Hull insurance covers physical damage to ships. Examples include fishing vessels, tankers, and cruise ships. Coverage includes collisions, fires, and capsizing incidents.

Marine liability insurance safeguards against legal liabilities. It applies to shipowners, operators, and seafarers. This addresses cargo claims, crew injuries, pollution, and wreck removal.

War risk insurance covers damage due to war-related activities. It protects against mines, torpedoes, and military actions.

Freight insurance covers financial loss from undelivered cargo. It insures shipping companies, freight forwarders, and cargo owners. This addresses shipping delays, route diversions, and vessel seizures.

Marine reinsurance mitigates risks for insurers. Examples include treaty reinsurance, facultative reinsurance, and surplus share reinsurance. This supports underwriting, strengthening financial stability, and preventing large losses.