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Shipping is exposed to many risks arising from the perils of the sea and also from the quality and age of a vessel itself. The human element is also critically important, particularly the calibre of the crew and management and the level of maintenance carried out on the vessel. Hull insurance provides protection against loss or damage to the vessel itself, its machinery and its equipment.
Tokio Marine Kiln has specialist expertise in insuring smaller ship-owners, fishing vessels, brown water vessels and older fleets. We offer a broad range of policy coverage tailored to a client’s level of risk exposure:
- All risks including machinery breakdown
- Restricted conditions excluding partial loss for machinery and heavy weather damage
- Total loss only
- Increased value
- Loss of hire
- Mortgagees' interests and mortgagees' additional perils
- Reinsurance: both proportional and non-proportional
Our maximum line size is USD10m.
Tokio Marine Kiln is a long-standing international leader in the hull insurance market offering significant line sizes.