By Protection & Indemnity policy Universal Marine Overseas offers insurance protection for ship-owners against:
• claims for damages from various third parties
• claims arising from accidents with crew
- Benefits of this insurance:
• allows to smooth volatility of the company cash flow
• prevents ship owner’s balance sheet from catastrophic losses
Scope of Cover
• Liability in respect of seamen
• Liability to persons (other than seamen and passengers)
• Expenses of diversion of an insured ship
• Liability arising from collision with other ships
• Liability for loss of or damage to fixed and floating object
• Liability for environmental pollution
• Liability in respect of towage
• Liability for wreck removal
• Liability in respect of cargo
• Special compensation to salvers
• Liability in respect of war and strike risks
Target vessels:
Small and medium tonnage of dry cargo ships and bulk carrier
• GCS < GT 10,000,
• bulkers < GT 10,000,
• Fishing < GT 7,000,
• tankers < GT 7,000,
• Port and supply vessels, tugs