A Ship repairer needs to cover loss or damage to vessels at all times whilst in their care, custody and control including whilst being worked upon, being shifted in tow or otherwise or on trials.
The basis of cover is normally the London market wording which covers:
- loss of or damage to the vessel in the care of the Assured for the purposes of being worked upon
- shifting and moving within the port confines, including trial trips
- loss of or damage to cargo etc. on or discharged from the vessel being subject of repair
- loss of or damage to machinery whilst removed from vessel for the purpose of being worked upon, including whilst in transit between vessel and repairers premises
- removal of wreck
- loss of or damage to Third Party property arising from ship repairing activities
- Sudden and accidental Seepage & Pollution.
Dependant on the location of the yard and facilities it is possible that more than one vessel could be damaged in the same accident; a common cause would be fire, which could spread to other vessels in the yard awaiting repair or re-delivery.
Ship Repairers Liability insurance is designed to provide cover against liabilities arising from acts of negligence which result in loss or damage to the property of others whilst being worked upon at the yard or personal injury to others whilst visiting the yard.
- Other work, being repair and modification operations carried out by the yard which do not fall with the scope of ship repair
- Coverage for workmen employed by the Assured whilst away from the yard, including whilst repairs are carried out onboard vessels or rigs or at other yards
- Legal liability for death or personal injury (other than liabilities arising under employers’ liability or workmen’s compensation schemes)
The relationships that we have built over the years with our extensive network of insurers and partners allows us the advantage of being able to negotiate the best possible terms and ultimately deliver the most relevant cover at the most cost-effective cost.