An introduction to P&I Insurance for Mariners - Skuld

Groundings are one of the causes of damage covered under Hull and Machinery insurance/ RELATED COVERSWithout going into too many details, it is worth mentioning a fewcovers which are quite common:War Insurance. The Hull and Machinery, and most other marineinsurance covers, exclude any loss, damage or liability due to war orwarlike situations (i.e. civil commotion, terrorism). The war cover hasseparate trading limits (called “Listed Areas”) where trading may berestricted or subject to additional premium.Check War Trading Limits!Loss of Hire Insurance. To protect a loss of a charter hire orfreight income many owners elect to purchase a loss of hire cover.Depending on the conditions, the cover may include slow steaming asa result of a physical damage to the ship. The cover may also includetime lost due to deviation to a repair yard. Correct and accurate logentries are therefore important in such situations.AN INTRODUCTION TO MARINE PROTECTION & INDEMNITY INSURANCE5