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Corporate Insurance

Marine

Marine Insurance provides comprehensive protection for various risks that may arise during the process of shipbuilding and the transportation of goods at sea.

Builder’s Risk Insurance

Guarantees all losses and damages caused or found on the basic material of the ship’s frame during the insurance period.

Objects that can be insured:

SECTION I

  • Sub Section A

Hull and machinery that are connected or being built at the dockyard.

  • Sub Section B

The machine insured during the subcontractor’s construction period.

SECTION II

The machine insured since it was handed over to the builder.

Companies that need this insurance:

  • Ship-building company
  • Ship-building sub-contractor company
  • Ship-ordering company
  • Ship-building financing company

Excluded Risks:

  • The removal of disposal of obstacles, shipwrecks, cargo, or other objects.
  • Any properties, real objects, or personal objects except ships or properties on other ships.
  • Rebellions, strikes, labor disruptions, riots, civil unrest, treason, revolutions, civil wars, power struggles, or actions by government authorities.
  • Loss of life, injury, or disease.
  • Cargo or other goods on the Insured ship.
  • War exclusion.
  • Nuclear exclusion.