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

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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.