Hull and Machinery protects the owners and production companies with an insurable interest in the vessels for repairing or replacing damaged, destroyed or lost property.
Protection & Indemnity is required when the insured is responsible for operating the vessel. It protects the insured against:
(1) liability for specified types of bodily injury or property damage and
(2) certain unexpected vessel related exposures and disbursements.
Principal liabilities include:Loss of life, personal injury and sickness of the vessel crew, production crew and third parties; damage to cargo on board the vessel; damage to piers, docks, jetties, and other fixed objects; damage to other vessels and their cargo caused otherwise than by collision with the other vessel; inadvertently incurred fines and penalties because port rules were violated; expenses incurred when the law requires that a wrecked vessel be removed;
Collision Liability (aka Running Down Clause) is included and covers damage caused by collision with another vessel.
Towers' liability is included and provides coverage for the object being towed and any cargo aboard the tow.
Jones Act coverage is included and extends coverage for causes of action by seamen against their employers measured by the Federal Liability Act. Insurance coverage under these Federal Acts is much broader than traditional workers compensation policies.
Charterer?s Liability is required when the insured is not responsible for operating the vessel.
Wharfinger?s Liability covers the liabilities of parties that operate or control a dock, pier or marina.