WHAT INSURANCE COVER DO YOU REQUIRE?
WHAT INSURANCE COVER DO YOU REQUIRE?
CHARTERERS
TEAM
FREIGHT DEMURAGE & DEFENCE (FD&D)
The purpose of FD&D is to cover costs and expenses incurred in connection with the Assureds defence in claims, disputes and proceedings, where Underwriters decide that the case merits support, relating to matters such s freight, deadfreight, demurrage arising out of Charter Party/Bil of lading, detention, salvage, general contributions and charges.
CHARTERERS LIABILITY TO HULL (CLH)
According to the terms of the Charter party, the Charterer is usually responsible for the loading, stowage and unloading of the cargo. If, in the course of one of these operations, the vessel were to be damaged, the Charterer would - in the first place - be considered as liable even if , as is usual the operations are carried out by Stevedores. There is, of course, a right of action against the Stevedores themselves but - in such a case - it would have to be proved that the latter were negligent in the exercise of their duties. In certain areas the chances of enforcing a claim against Stevedores are very remote. Safe port/berth obligation Furthermore, Charter Parties provide for a "safe berth" provision, whereunder the Charterer may be rendered liable for damage due - for instance - to stranding at the port of lading or discharge and, particularly, in the scope or a Time Charter where the Owners are not usually aware in advance of the ports and berths used. Damage due to bad bunkers It is normally the Time Charterers obligation to provide bunkers to the vessel. If such bunkers are off specification and therefore causes damage to the vessels engines, there is a possibility that liability for such damage will fall on the Charterer. Such liability will be covered by this insurance.
LOSS OF EARNINGS
Marine Delay Insurance covers delays caused by a vast array of onboard and shore perils. Please view the section on Protection of income for further details.
EQUIPMENT INSURANCE
Any other equipment carried onboard and owned by the Charter can of course be insured on cargo terms
CHARTERERS LIABILITY (CHL)
3rd party liabilities
The P and I insurance covers the Charterers Liability towards third parties in a similar manner as P and I Clubs cover Shipowners. This can range from bodily injury to accidental death to people on board or near the vessel, due to stevedoring operations or if the vessel were to crash into the pier or quay while under command of a pilot appointed by the Charterer. At the same time, liability for any damage to piers, quays or other property consecutive to such an accident would also be covered under this item.
Liability to Cargo
When the Charterer loads cargo belonging to third parties, the insurance should be extended to cover this liability towards such cargo. The consignees or their insurers, by way of subrogation, are likely to proceed against the Charterer for alleged improper loading, stowage etc.
STRIKE & DELAY
The owner/ charterer/ operator may like to protect himself for loss of income if the ship is delayed as a result of some perils. Cover is normally divided between ashore and onboard incidents, i.e. the charterers risks or the Owners risks respectively.
Shore risks (Classes I and II) - Cover can be obtained for labour disputes and/or forcemajeure incidents such as fire, explosion on land, mechanical breakdown, landslides, port/ waterway closure, severe weather etc.
NICKLAS HOLMBERG
Direct: +46 8 410 19 684
Mobile: +46 70 94 00 930
BUNKER
Bunker owned by the charterer or by a shipowner member/client of Skuld, can be lost and thereby insured. Due to the increasing cost for bunkers this is quite a valuable cover for charterers or members. The limit on this cover is the maximum value of bunkers that the owner/charterer will provide to the entered vessel. The claim under this cover is limited to the loss of bunker (actual value lost at time of loss) and partial liabilities, such as GA and collision liability contribution.
TOBIAS CARLSSON
Direct: +46 8 410 19 689
Mobile: +46 70 2701 1 88