We offer Charterers’ Liability insurance for time and voyage charterers and traders.
We can insure a chartered vessel of any type, cargo carrying and non-cargo carrying, any type of commodity, any trading area worldwide at fixed premiums. We have no restrictions to size, age, type or territory and offer limits up to USD 500m.
Charterers who also have activities in logistics can easily extend their Charterers’ Liability insurance to cover the MultiModal liabilities.
Key risks as a Charterer
- Liability to the vessel – as a Charterer, you may be held liable for any damage to the vessel occurring during the contracted period. Damage to the vessel may include damage caused by stevedores, by the cargo carried, by the supply of defective fuel oil, or by an unsafe port/berth. If the vessel has to be repaired, you may also be liable for compensating any time lost as a result.
- Liability to cargo – as a Charterer you may be liable for loss of and/or damage to cargo resulting from bad stowage or mishandling, shortages as a result of theft or mismanagement, or non-delivery (through for example loss, arrival at the wrong port).
- Other marine liability risks – a Charterer can be held liable for death, injury or illness suffered by the crew or third parties, collision, pollution, wreck removal, penalties, stowaways, salvage or fines under the charter party or bill of lading. You are covered against unwarranted liability claims in cases where you are not liable, but a party chooses to pursue a claim independently.
Most important of all, we make sure that you are properly covered for the risks you are facing.