Port Authorities are potentially exposed to a wide variety of legal liabilities. These include liability for damage to ships, cargoes or property belonging to third parties, as well as liability for death or bodily injury to third parties.
Associated Marine Insurers provides cover against such eventualities and the associated legal costs, with two policy wordings designed to match the type and size of any given authority’s operations. Copies are available on request.
Subject to the exclusions detailed in the policy wording the insurance covers legal liability to pay for:
- damage to ships or other property belonging to a customer
- damage to cargo, including mis-direction, wrongful delivery or delay
- third party property damage
- death or bodily injury to third parties
- removal of wreck
where such liability occurs in the course of or arises from the insured’s operations as a port authority.
Principal Risks Excluded
Liability for or arising from
• worker’s compensation
• punitive and exemplary damages
• payments under penalty clauses
• professional advice/surveys
• infidelity/dishonesty of employees
• pollution, unless specially agreed
• war & strikes
Cover for liabilities arising from additional activities undertaken by an authority may be negotiated on a case by case basis e.g. passenger terminals, bunkering and/or fuelling services, pilotage, ships agency, navigational aids, berthing risks etc.
Premiums are calculated on annual gross charges and/or tonnage of cargo handled and take into account the various activities and exposures involved in the authority’s operations.
A minimum and deposit premium is calculated and adjusted on expiry of the policy period on receipt of your certified actual gross charges/tonnage if these are higher than estimated.
Settling Your Claim:
Subject to the policy deductible our experienced claims staff will promptly indemnify you for legal liability and costs insured by the policy up to the agreed limit.
The information above is an outline of the cover provided. Full details of the cover with all limitations exclusions and conditions are contained in the policy.