PRIMARY LAYER LOSS OF EARNINGS FOR OWNERS

PRIMARY LAYER LOSS OF EARNINGS FOR OWNERS

To mark our 10th Anniversary in 2022 NORDIC launched the primary Loss of Earnings, providing cover for delays following physical damage to a vessel recoverable under the underlying H&M cover

A “Buy back” option for delays during the initial 14 days following an incident covered under the underlying H&M insurance, until conventional loss of hire cover kicks in

It takes mainstream experts to know how mainstream can still leave an owner with many potentially painful exposures despite providing hugely valuable protection.

It takes a dedicated and innovative team to come up with pragmatic solutions to the most damaging exposures: NORDIC

KEY FEATURES

  • Insurance for covering loss of earnings following physical damage to a vessel recoverable under the underlying H&M cover
  • “Buy back” option for delays during the initial 14 days’ delay until conventional loss of hire cover kicks in
  • Fixed and agreed Daily Insured Amounts (DIA)
  • Fixed premium cash flow protection to support budget accuracy
  • Clients know their maximum final cost at inception and can accurately budget for their maximum cost
  • Individual Performance and Continuity Reward system
  • Full in-house claims service – external surveyors/adjusters usually not required
  • Single Incident Limit: 14 days including deductible
  • Minimum deductible: 7 days unless otherwise agreed
  • NO reinstatement premium in case of claim
  • Premium expressed as a percentage of the Daily Insured Amount (DIA)
  • Policy Annual Aggregate Limit (AAL) over all vessels

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