MARINE CARGO & MARINE HULL INSURANCE
Marine cargo insurance provides comprehensive cover against risks of loss or damage for goods in transit from point A to B by sea, air (including courier) and land. Any business that imports or exports goods or transports goods in Singapore or overseas could benefit from the peace of mind that these insurance policies provide.
Waterways can be quite challenging at times and can result in any untoward incident.
Marine hull insurance covers accidental loss or damage to water vehicles used for commercial purposes, like a ship, boat, yacht and fishing boat. The people who are eligible for marine hull insurance are the owners of ships, port authorities as well as private and public port operators.
Multi-Modal Transport Operator Liability
A multimodal transport operator is one who handles the transport of cargo from its origin to the final destination by different modes of transport (sea, air, road, or rail). Within the period of responsibility, MTOs are liable for any act or omission that causes loss, damage, or delay in the delivery of goods. It is a pre-requisite for the MTO to have insurance to cover payment for any claim arising.
Unfortunately shipping accidents, cargo loss, vessel damage and injuries happen more often than we think. Marine Liability Insurance is designed specifically to protect your marine business against legal liability and property damage claims.
Marine protection and indemnity insurance protect vessel owners from third-party liability risks. Ship owners must also consider the potential lawsuits that may come from the passengers and crew of the ship. An oil spill from a ship can cause environmental damages, resulting in many civil lawsuits. Hence, as a vessel owner, you need to have this coverage for comprehensive protection.
Pleasure craft insurance is designed to cover marine vessels used for private purposes. Furious waves and unyielding winds can put you and your vessel in danger. Owners of pleasure crafts still run the risk of theft, damage, loss and/or incurring third-party legal liabilities. As an avid navigator and owner of a pleasure craft, you need to have pleasure craft insurance with us and secure your vessel.