As charterer or trader you assume in your voyage and/or time charter contracts contractual and legal liabilities, which could seriously affect your balance sheet or credit lines.
- Damage to Hull
- Cargo Liability
- P&I and Defence (FDD)
A full cover of Charterers Liability
Key features of our covers
Charterers exposures have increased dramatically over recent years with volatile freight markets fuelling an already litigious industry with a complex regulatory and legislative environment.
- Damage to Hull including Hire & Demurrage
- Cargo Liabilities including ICA and Through Transport
- P&I including Illness, Injury & Loss of Life and Pollution, General Average & Wreck Removal
- Expenses including Sue & Labour and Removal & Replacement of Bunkers
Cargo Owners Legal Liability
Some charterers carry their own cargo or can be identified as cargo owner through the bill of lading. There is a potential risk that the cargo itself is the cause for a third party liability claim such as oil pollution. Claims may therefore be presented to charterers in their identity as cargo owners rather than charterers. We are able to extend our Charterers Liability coverage to include Cargo Owners Legal Liability, which protects against such exposure.
Typical disputes that involve charterers concern:
- Hire/off-hire, freight and deadfreight
- Laytime, breach of contract
Legal expenses from disputes under the Charter Party are covered under the Defence (FD&D) cover as an extension to our main Charterers Liability cover. Not only are expensive legal fees covered but Defence (FD&D) also provides access to our own in-house legal expertise in providing all kinds of advice relating to contracts etc, advice on mitigating losses and the like.
To complete the spectrum of insurance lines we can offer additional insurances to protect charterers.
- War, Bunkers
- Freight, Detention
- SOL, Loss of Hire