DELAY – OWNERS

DELAY INSURANCE FOR OWNERS

Cover for shipowners’ losses due to delays arising from specific named perils.

Solution for loss of earnings excluded under mainstream H&M and P&I. At primary layer level – i.e.: first 14 days Fixed premium.

Mainstream H&M and P&I insurances both exclude the loss of earnings following a covered event. Delay Insurance provides a “buy back” option for H&M / P&I Exclusions’ for the unavoidable losses suffered during the initial 14 days’ delay.

KEY FEATURES

  • Provides a “buy back” option for delays excluded under H&M/P&I cover during the initial 14 days’ delay until traditional loss of hire cover incepts
  • Bespoke, stand-alone insurance cover – not linked to H&M, P&I or any other policy
  • Fixed premium together with fixed and agreed Daily Insured Amounts (DIA)
  • Provides cash flow protection at primary level – budget accuracy
  • No hidden charges – clients know their maximum cost upfront
  • Reward system benefits good performance applying individual bonuses
  • Fully customisable around clients’ needs – e.g. H&M perils only/P&I perils only, etc.
  • “Sleep easy” policy – time and cost efficient
  • Full in-house claims service – external surveyors/adjusters usually not required

DOCUMENTS

Contact Jan Limnell, Claudio Blancardi, Dan Lennhammer, Constantinos Elmaoglou or Yiannis Minovioudis directly for any delay cover related questions or through your usual broker to outline your requirements and give us the opportunity to, possibly, design our next new product