Insurance Management

When incidents happen

Accidents and incidents happen even under the most impeccable management standards and experienced vessel owner is well aware of the risks and is prepared for that.

We shall assist you with obtaining competitive quotations for your vessels, that caters to your needs and trade so that your interests are well protected.

We have a close relationship with top-rated insurers, protection and indemnity clubs, underwriters and brokers and can provide via their assistance all conventional covers, including, but not limited to:

• Hull and Machinery (and increased value)
• P&I
• FD & D
• War Risk
• Kidnap and Ransom
• Loss of Hire

For the wind offshore industry, the covers include:

• Construction All Risks
• Delay in Start-Up
• Operating All Risks
• Business Interruption
• the Third Party Liability

We shall manage all claims from the initial communication to the completion of the General Account and shall act as an proactive mediator between the Vessel Owner and the insurer. We shall also ensure that the matters are handled meticulously with minimized costs and over the shortest possible time span for all the parties involved.

In short, we shall assist you with:

1. Risk assessment: We can help to assess the risks associated with the vessel's operations, such as the risk of accidents, damage, or loss, and mediate the provision of appropriate insurance coverage.
2. Insurance negotiations: We can negotiate insurance policies on your behalf, helping to ensure that you receive the best possible coverage at a competitive price.
3. Policy management: We can manage your insurance policies, including renewals, updating coverage as needed, and handling claims.
4. Risk mitigation: We can help you to implement measures to mitigate risks and reduce the likelihood of claims, such as by improving crew training or implementing safety procedures.

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We have used LocktonEdge, Norway as our preferred insurance broker for decades, offering insurance expertise within all segments including market knowledge and extending us their hefty portfolio of top-rated insurers. They are small enough to be efficient and hungry, yet with the power of Lockton and Global Marine backing their initiatives.