Extensions of Cover for Offshore, Specialist Risks and Extended Contractual Liabilities
As well as the standard risks insured under our P&I Rules and our fixed premium terms and conditions, we provide a range of tailored additional covers for owners, charterers and operators engaged in transporting project cargo, offshore maintenance, installation and construction projects in specialist sectors such as offshore renewables and oil and gas.
Our Members/Assured’s include operators of MPP heavylift ships, windfarm installation and support vessels, platform supply vessels, tugs, and jack-up and other barges. They work closely with our Contractual Review Team, which comprises technical and loss prevention experts and specialist lawyers, who are available to review contracts to help identify risks and the extent of cover needed. We support our Members/Assureds’ business by providing recommendations during contract negotiations that can reduce the need for additional cover. We can provide extensions and additional covers when this is what is needed.
We can arrange extensions to cover:
- liabilities arising from specialist trades, including works such as exploration, maintenance and repair, subsea construction, dredging, blasting, pile-driving, cable or pipe-laying; and,
- contractual liabilities which fall outside standard P&I cover. Such enhanced liabilities and indemnities often arise in trading agreements and contract terms in specialist projects/trades that for commercial reasons end up falling on Members/Assureds, for example, waiver of rights to limit, contractual wreck removal, materially amended knock-for-knock provisions in supply, heavy lift and towage contracts, as well as project cargo related liabilities.
The terms and limits of extended cover are tailored to our Member/Assured’s particular requirements.
We arrange bespoke cover for Mobile Offshore Units, including FSRUs and FPSOs.
For further information please contact our underwriting team at: firstname.lastname@example.org