Sea Vehicle’s Compulsory Insurance
Our passenger vessel liability insurance policy is designed for the pleasure craft industry and for smaller vessels not exceeding 1,000 GT and carrying no more than 500 passengers. It provides a limit of cover of up to USD 500 million and has been written in clear; easy to understand language.
Owners of larger passenger vessels are, of course, welcome to approach us for cover under our P&I insurance rules.
When you become our assured, you join with other small and specialist vessel owners who entrust us with over hundreds of their ships. This will add commercial distinction to you.
We will respond to all marine liability claims made against you, other than a small number of clearly identified exclusions.
The liabilities we insure you against include those in relation to;
- Collision and property damage,
- Diversion costs,
- Investigation and defense costs,
- Fines,
- Passengers and others,
- Personal effects,
- Pollution and environmental liabilities,
- Quarantine costs,
- Stowaways, refugees and life salvage,
- Towage,
- Water sports (swimming and snorkeling cover),
- Wreck removal,
- Your crew.