MARITIME LIEN

MARITIME LIEN (CHARTERERS’ DEBTS) INSURANCE

Actions “in rem” can lead to a ship being arrested on grounds of a Maritime Lien that was created by a different party than the current owner of the ship For example, unpaid debts by one of the charterers or even a previous owner.

Maritime Lien Insurance is a specialist niche that can be relevant for :

  • Owners that trade their ships on T/C out, thus potentially exposed to unpaid Charterers’ debts, and
  • Owners buying second hand ships

We do not believe in providing “off the shelf” covers and have widened the standard market policies’ wording to make our products unique.

At the same time we are open to further customisation or widening, always provided we are fully aware of the context and are in a position to deliver “Nordic service standards”, i.e. : only providing solutions that we can accurately rate and adequately service from a claims’ perspective.

As such, clients’ input comes first as it is on clients’ input that we will base our work.

KEY FEATURES

  • Provides cover against the consequences of certain maritime liens being asserted against the Insured Ship for matters such as:
    • Actions “in rem” / arrests in respect of claims against a party other than the current owner, manager or operator.
    • Unpaid charterers’ debts (where the vessel has been trading on time charter).

DOCUMENTS

Contact Jan Limnell, Dan Lennhammer or Claudio Blancardi directly or through your usual broker to outline your requirements and give us the opportunity to, possibly, design our next new product.