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Marine insurance

AIC provides insurance coverage for vessels of any size, type and value, including dry cargo carriers, tankers, passenger vessels, fishing and research vessels, floating cranes, yatches and boats. In the course of 13 years of active underwriting on the highly competitive marine insurance market we have gained comprehensive knowledge and extensive practice in providing H&M insurance and associated lines of marine insurance. Close cooperation with international markets resulted in our wide experience and knowledge of their structure and operation as well as internationally accepted claims' settlement procedure.

Scope of cover includes:

-total loss /actual or constructive /of the vessel

-damage to hull, machinery, equipment and everything connected therewith

-general average

-salvage, salvage charges

-charges properly and reasonably incurred for the purposes of averting or minimizing a loss (Sue & Labour)

-collision defence or attack costs dry docking expenses to survey underwater part of the hull after grounding or stranding even if no damages were found

The following risks are subject to additional coverage:

-loss of hire;

-war risks;

-collision liability with vessels (RDC) and/or fixed floating objects (FFO).

Shipowners’ liability insurance (SOL) provides this third party liability cover. Nowadays this kind of insurance becomes more and more important and in some cases SOL insurance becomes compulsory owing to strict requirements of port authorities and growing number of acts on environmental protection passed by governments of different countries.

Risks covered:

- liability to crew members;

-liability to persons other than seamen;

-liability in respect of cargo carried on the entered ship;

-liability for collision and damage to fixed and floating objects;

-liability for pollution;

-wreck removal;

-sue and labour and legal expenses.

Insurance of Shipowners’ liability in respect of crew.

The cover provides protection for the following:

-liability incurred in respect of crewmembers liability to pay medical, maintenance and other expenses incurred in relation to the injury, illness or dearth of the crewmember;

-liability to repatriate and to compensate a crewmember for damage in relation to the injury, illness or dearth;

-expenses incurred in sending substitute to replace a sick, injured or dead crewmember;

-costs and expenses incurred in diverting the ship to land a sick or injured crewmember.