MARINE INSURANCE

This type of insurance provides covers against loss and/or damage to vessels/ships hull and machineries, materials and other equipments of the vessel including collision/TPL risks

This is a very important cover for those who import goods either as raw materials or finished products, in the course of their business.

Cover is also available for exporters of goods and raw materials.

The policy will protect the goods carried by Sea or by Air from losses arising out of theft, collision, or fire to the vessels, including capsizing in the case of sea freight. The effects of war or of goods being jettisoned (thrown off the vessel to save the vessel) can also be covered.

Cover can be arranged from port of origin to port of destination or from port of origin to warehouse of final destination.

Usually cover is against all risks subject to certain exclusions depending on the description of goods and packaging.