Maritime insurance

Maritime insurance

Maritime insurance

Maritime insurance

Maritime insurance

Maritime insurance

Maritime insurance is the mother of all insurances. "Maritime insurance" is also a catch-all concept. After all, there is no single 'maritime insurance'. Depending on the maritime risk to be covered, a different type of insurance will have to be provided.

One of the most important and well known maritime insurances is the Protection and Indemnity insurance (P&I). P&I insurance companies are referred to as 'Clubs' and insured persons as 'Members'. It is a mutual insurance technique in which the insurance premium (Calls) serves to absorb the risk of the other Members. Whereas P&I policies generally only cover the shipowner's liability towards third parties, the crew and passengers, nowadays they also cover marine pollution, wreck removal, unpaid crew wages and cyber risks.

The Casco (hull) policies cover, among other things, damage to the insured vessel and accessories such as engines, machines and installations. Similar insurance can also be provided for ships under construction.

The cargo interests in a maritime adventure can cover the risk of transit damage to their cargo by means of a cargo insurance policy. In addition to the Institute Cargo Clauses, the Cargo Insurance Policy of Antwerp is a frequently used type of policy in our region. Goods in transit policies insure the damage to the goods during transport. Depending on the chosen type of policy and modalities, the insured period and coverage will be specified differently. 

Leeward has extensive experience in all forms of maritime insurance policies. She assists insurers and companies with the drafting of a tailor-made policy for the settlement of claims and disputes.