Marine Insurance Questions & Answers

 

JLT Specialty's Marine team provide market leading risk solutions to protect people and assets, along with offering certainty in adverse situations.

The team answer a series of frequently asked questions. Contact us if you would like to discuss any of these questions and answers in more detail.

WHAT HAPPENS IF...


Call your claims specialist on the number specified in your pre-agreed claims and casualty handling procedures. They will ensure any necessary experts are appointed and your rights are preserved.

Your broker can provide details of loss of hire, delay and other marine business interruption products that respond to vessel damage and non- damage triggers, and help you decide what is most suitable for you.

See if your broker can ensure that any liabilities arising from such contracts are covered by your P&I insurers, or if they can arrange additional cover where that is not possible.

Your broker can arrange Freight Forwarder’s Liability insurance to cover this exposure so you can trade with peace of mind.

Your broker can arrange Slot Charterer’s Liability insurance including Slot Charterer’s Liability for Damage to Hull, ensuring that you are protected against any such liability.

Your broker can explain the agreement, how it affects you, and what strategies you can adopt to mitigate its impact.

Your broker can assess your premium rating, using our unique P&I price modelling tool, to assess your pricing independently, and outline strategies for achieving any improvement their analysis suggests you deserve.

Your broker should provide a thorough analysis of your hull & machinery conditions, measuring them against the latest market benchmarks, and ‘stress-testing’ against real claims scenarios.

Your broker has a deep practical knowledge of, and hands on experience with, all hull & machinery forms, and can help you understand how these different approaches work in practice, and what is likely to suit you best.

If the data was stolen as a result of a security breach, a standard cyber insurance policy should respond to any incident response costs, as well as any resulting liability. The nature of the data will have an impact on the size of the claim, notification costs and possible liability, but it shouldn’t have an impact on whether or not the policy responds.

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