Traders
When Traders, manufacturers or other owners of goods transport their own cargoes, by chartering vessels, they need to be aware of the liabilities they potentially incur in doing so. As a consequence, the cargo owner will be confronted with the usual Charterers’ liabilities, such as damage to the chartered vessel, personal injury, pollution, etc.
On top of that, they face being confronted with liability claims in their capacity as cargo owner instead of Charterer. These risks are similar to the Charterers’ liabilities as highlighted above. The majority of cargo insurances, however, do not cover liabilities resulting from transport of the product.
To address these risks, Post & Co’s covers can be extended by separate agreement with the additional Cargo Owners Legal Liability insurance. This extension covers the third party liability for cargo owners, including pollution.
Please contact our team for more information and a quotation.
Products
P&I insurance covers the liabilities resulting from operations of the vessel and has originally been initiated by ship owners. Apart from this category, also other operators like managers and charterers can be covered for these risks.
P&I insurance covers Assured’s liabilities such as (but not limited to):
• Personal injury of seamen, passengers and others on board
• Loss or damage of cargo
• Pollution
• Wreckremoval
• (Excess) collision with other vessels and property
• Towage
• Property on board
P&I insurance covers Assured’s liabilities such as (but not limited to):
• Personal injury of seamen, passengers and others on board
• Loss or damage of cargo
• Pollution
• Wreckremoval
• (Excess) collision with other vessels and property
• Towage
• Property on board
In addition to the Charterers’ P&I risks, Charterers may be liable for damage to the vessel, occurring during the charter period. P&I insurance does not cover damage to the vessel. Charterers therefore have to take out Damage to Hull insurance, covering liability of the Charterer for such damage.
Post & Co provides tailor made covers for Charterers and we invite you to read more about our insurance solutions servicing the Charterers industry.
Post & Co provides tailor made covers for Charterers and we invite you to read more about our insurance solutions servicing the Charterers industry.
Freight, Demurrage & Defence covers the legal expenses of the Assureds to defend their position in disputes which do not fall under the P&I insurance. These can be disputes in respect of Charter Parties, Bills of Ladings, Contracts of Carriage and disputes related to demurrage, freight payment, etc. The insurance covers the legal expenses in respect of these proceedings, not the actual amounts under dispute.
The F.D. & D. insurance will have a deductible to be borne by the Assureds themselves. Such a deductible can be covered under the Legal Expenses cover, subject to the condition that also F.D. & D. cover has been taken out.
When Traders, Manufacturers or other Owners of goods transport their own cargoes, by chartering vessels, they need to be aware of the liabilities they potentially incur in doing so. As a consequence, the Cargo Owner will be confronted with the usual Charterers’ liabilities, such as damage to the chartered vessel, personal injury, pollution, etc.
On top of that, they face being confronted with liability claims in their capacity as Cargo Owner in stead of Charterer. These risks are similar to the Charterers’ Liabilities as highlighted above. The majority of cargo insurances, however, do not cover liabilities resulting from transport of the product.
To address these risks, Post & Co’s covers can be extended by separate agreement with the additional Cargo Owners Legal Liability insurance. This extension covers the Third Party Liability for Cargo Owners, including pollution.
Please contact our Traders Team for more information and a quotation.
On top of that, they face being confronted with liability claims in their capacity as Cargo Owner in stead of Charterer. These risks are similar to the Charterers’ Liabilities as highlighted above. The majority of cargo insurances, however, do not cover liabilities resulting from transport of the product.
To address these risks, Post & Co’s covers can be extended by separate agreement with the additional Cargo Owners Legal Liability insurance. This extension covers the Third Party Liability for Cargo Owners, including pollution.
Please contact our Traders Team for more information and a quotation.
Bunkers provided and owned by Charterers can represent a substantial value. The Charterers’ Bunker insurance covers the loss of or damage to the bunkers. If in case of General Average the value of the bunkers contribute to the General Average award, the Charterers’ Bunkers insurance covers such contribution.
This insurance covers the daily hire amount if the vessel is detained as a consequence of an act of piracy and the vessel cannot be put off hire under such circumstances. Cover pays up to the agreed limit subject to the daily hire in the Charter Party.
Covers loss of revenue, additional costs, expenses and contractual penalties resulting from a range of perils including machinery breakdown, political risks, strikes, earthquakes and other incidents resulting in delay of the vessel.
Covers the extra costs that Charterers may incur due to delays resulting from marine perils. For instance, if a Charterer operating under a Contract of Affreightment (C.o.A.) has to charter replacement tonnage as the initial Charter cannot be continued due to a covered risk, this can result in substantial, additional costs for the Charterer. These extra costs fall under the Charterers’ Interest insurance.
For information or a quotation please contact our team.