Hello Sea.

Marine insurance provides coverage for vessels, cargo, and associated liabilities against risks encountered in maritime transport. It is essential for protecting maritime operations from financial losses due to damage, loss, or legal claims related to shipping and marine activities.

Key Coverages:

1. Hull Insurance:
   • Vessel Damage: Covers physical damage to the ship or vessel due to perils like storms, collisions, or accidents.
   • Repairs and Replacement: Provides financial support for repairs or replacement if the vessel is damaged or lost.
2. Cargo Insurance:
   • Loss or Damage: Protects against financial loss from damage or loss of cargo during transit by sea, including risks like theft, sinking, or rough weather.
   • Delivery Delays: Offers compensation for losses due to delays in delivery resulting from covered perils.
3. Liability Insurance:
   • Collision Liability: Covers legal liabilities for damage caused to other vessels or property due to a collision.
   • Pollution Liability: Provides coverage for costs related to environmental damage caused by spills or leaks from the vessel.
4. General Average:
   • Shared Losses: Covers the costs of sacrifices or expenditures made to save the ship and cargo during a maritime peril, shared proportionally among all stakeholders.
5. War Risk Insurance:
   • Conflict Damage: Protects against losses due to war, piracy, and other hostile actions affecting the vessel or cargo.
6. Freight Insurance:
   • Freight Costs: Covers loss of freight income if the cargo is lost or damaged, ensuring financial recovery for shipping costs.