Ports and Terminals
Our underwriting team have over 70 years of Marine market experience, and are recognised global leaders in this niche market. The team possess a wealth of experience of the particular risks faced by port operators, as well as companies involved in the shipping and freight industries.
This class of insurance demands expert knowledge, fresh insight and strong partnership with clients. We offer products that cater for the sophisticated and technical needs of the ports and terminal industry. We tailor the cover to meet the individual needs of the client, meaning that the client can be assured that the policy they receive is tuned to meet their specific needs.
IGI has a lead capability with a maximum line of US $25 million any one interest for liabilities, plus US $25 million for Property, Handling Equipment, Business Interruption and Port Craft.
Coverages include but not limited to:
- Third party liabilities
- Liability for loss of or damage to cargo in the client’s care, custody and control
- Professional liability for negligent acts or omissions
- Liabilities to authorities for regulatory breaches
Cover can be extended (as part of a package), to include:
- Handling equipment (both owned and leased)
- Port property
- Business interruption
- Port craft
Major subclasses include but not limited to:
- Port authorities
- Terminal operators
- Warehouse and depot operators
- Freight forwarders
- Ship managers
- Ship agents
- Ship brokers