-up to USD 15,000,000 any one vessel
Losses and damages caused to the vessel by the following risks:
All Risks of loss or damage to the subject-matter insured caused and discovered during the period of insurance, including latent defect, faulty design of any part (or parts thereof), but not the cost or expense of repairing, modifying, replacing or renewing the faulty part(s), nor betterment or alteration in design.
CertAsig covers loss of or damage caused by:
Insurance can be extended to cover following risks:
Port Authorities even in case of a “passive” nature, are still responsible for the general efficiency and safety of the port and its approaches, and may incur liability from any number of sources. In addition to general public or third party liability exposure, most ports have entered into contracts buildings leased, hired-in plant and equipment etc. and in many case this aspect of contractual liability may be overlooked in a port’s insurance programme.
CertAsig’s Ship Repairer’s insurance is based on London market wordings.