It is insurance is like third party insurance in case of car insurance for damages which are faced by the insured. When goods are being transported in the ship collides with another ship and causes damage, there would be a financial liability. The marine liability insurance policy pays for such financial liability faced by the vessel owner.
Scope of Coverage
Marine Liability Insurance provides cover for:
- Loss of or damage to any other vessel or property caused by insured vessel
- Death, personal injury or illness to the third party
- Removal of wreck
- Loss of or damage to any vessel or craft in your care, custody or control
- Tenant’s liability
- Premises risks
- Car park liability
- Pollution
- Damage to cargo and lost cargo
Symbo’s Marine Insurance Platform one-stop solution to all your needs! Check it out!