Maritime Risks
Ship Owner Liability Insurance
Objects of insurance
- Liability to crew members;
- Liability to third parties who are not crew members;
- Liability for collision with other vessels;
- Liability for damage to immovable and floating objects;
- Liability for environmental pollution with oil and other substances;
- Liability for safety of cargoes during transportation.
Insurance risks
- Damage caused to third parties.
- Costs for preventing and reducing the losses, investigating the circumstances of insured events, and legal
costs.
- Other risks accepted in the international practice of liability insurance.
Marine vessels insurance
Objects of insurance
- Vessel hull;
- Vessel mechanisms;
- Machinery and equipment for the period of their operation.
Insurance risks
- losses due to complete destruction or costs for the hull, mechanisms, machinery, equipement damage repair;
- losses due to the vessel’s loss without a trace;
- losses, costs and contributions relating to the vessel’s proportion of general average;
- necessary and expedient vessel rescue costs;
- necessary and expedient costs for preventing/reducing losses or establishing the size thereof;
- loss of freight;
- war risks;
- liability for collisions with vessels and / or immovable floating objects.
Insurance of vessels under construction
Objects of insurance
- Insurant’s property interests associated with vessel construction.
Insurance risks
- loss and destruction of (actual or total constructive) against any risks that threaten the vessel during its
contraction, commissioning and running trials;
- environment pollution;
- construction defects;
- general average and salvage of the vessel;
- liability for collisions;
- costs for preventing, reducing and establishing the size of losses.
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