Marine Hull Insurance
Marine Hull Insurance is as old as Insurance itself for which Tugu Insurance has specialized in the variety of vessel types, especially Barge, Tugboat, Bulk Carrier, Container/General Cargo Vessel, New Ship Building, Ocean Tanker & etc for well over forty years.
We can offer you with a wide spectrum of the covers including:
Hull, Materials & Machinery Outfits etc. and everything connected herewith, including Protection Indemnity Risks
This provides cover against risks connected with navigation to which a ship or other insurable interest in movable property may be exposed during a certain voyage or for a fixed period of time as per London Institute Clauses.This Cover can be extended to include the Protection and Indemnity Risks but excluding crew and cargo liabilities, marine seepage and pollution absolutely.
Disbursements and Increased Value (Total Loss only, including Excess Liabilities) Risks
This provides a top-up coverage where the limit on the “Hull” policy may be less than the actual value of the vessel. IV is payable upon Total or Constructive Total Loss of the vessel.
This provides cover for the risks in respect of War, Strikes, Riots, Civil Commotions and Malicious Damage etc.
This provides cover for all types of vessels under construction, including their machinery, equipment and other outfit, throughout all stages of their construction. Insurance contract is valid for the period of construction, launching and trial voyages as per Clauses for Builder's Risks.
Mortgagees Interest Risks
This provides cover for the interests of Mortgagees where the omission acted by the Owners results the loss which can not be recoverable from “Hull” policy.
Compulsory Third Party Liabilities
This provides cover for the risks of legal compulsory third party liabilities connected with the death of or bodily injury to any person caused by or arising out of the use of the assured’s vessel in the waters of Hong Kong as per Section 13 of the Merchant Shipping (Local Vessels) (Compulsory Third Party Risks Insurance) Regulation, (Chapter 548 of sub leg.).
Offshore Construction / Energy Risks
This provides cover for the risks in respect of Offshore Energy, including but not limited to Offshore Operational Risks, Builders Risks and Construction.
In addition, we have an experienced and dedicated team to manage this class of business and are committed to providing you with the professional and prompt service you deserve.