In various Asia Pacific countries, Chubb provides various coverage to ship owners, managers and charter parties. One of the coverage is the Hull Insurance, which is an insurance product with provides coverage for hull, along with its machinery and equipment, against damage or loss arising due to shipping risks and perils of the seas. This insurance product is a supplementary product which can be taken to complement the primary coverage of cargo products that we provide.
Our excellence in providing Marine Hull Insurance include:
- Long-term focus on client relationships
- Tailored products as required
- Experienced Marine Hull Underwriters
- Worldwide network of claims professionals
- Customized risk management solutions
Coverage Highlights
- Perils of the seas, such as inclement weather, drowning, crash, etc
- Fire and explosion
- Theft with violence by persons outside the ship
- Jettison
- Piracy
- Breakdown or accident in nuclear installation or reactor (on the vessel)
- Collision with airplane or other space objects, means of land transportation, dock, etc
- Earthquake, volcanic eruption, lightning strike
- Accidents due to cargo loading-unloading or fuel
- Negligence by captain, crew or guide
- Etc
Coverage Options
All Risk (Comprehensive)
Guarantees any damage, either partial or total.
Total Loss Only
Only guarantees total loss, which includes:
Actual Total Loss
- Vessel is wrecked or completely destroyed
- The Insured is unable to regain ownership of the vessel
- Vessel is declared ‘lost’, i.e. not found for more than 6 months since the voyage ended
Constructive Total Loss
- The Insured cannot regain ownership of the vessel (deprived) and the estimated cost to regain the vessel is higher than the value of the vessel if the vessel can be saved
- Vessel is heavily damaged that the repair cost is higher than the insured value
Have a question or need more information?
Contact us to find out how we can help you get covered against potential risks