- Uncertainty as to whether your existing cover is adequate
- P&I / H&M renewal approaching or in need of reassessment
- A newbuilding or new trading route requiring cover to be arranged
- High premium rates, with a need to compare cover against cost
- An incident that requires support through the claims process
Ocean Grow works through each item with you — the scope of work and deliverables are set out below.
Ocean Grow advises owners on the placement and survey requirements of marine insurance, assessing differences in scope of cover and premium rates between competing programmes. Following an incident we guide owners through the claims process and liaise with underwriters to protect a fair recovery, keeping the vessel asset properly covered.
Principal Classes of Cover
Protection & Indemnity
Covers the owner's liabilities to third parties, including personal injury and death, oil pollution, cargo damage and a proportion of collision liability.
Hull & Machinery
Covers physical loss of or damage to the hull, machinery and equipment, together with a proportion of collision liability.
Advisory and placement support is also available for cargo insurance, war risks and other related covers.
Deliverables
On completion of the engagement you receive the following services and outputs, helping keep the vessel asset properly protected.
Insurance needs assessment
Comparison of cover and premium rates
P&I cover
Third-party liability placement planning
H&M cover
Hull, machinery and equipment loss cover
Cargo insurance / war risks
Placement support for additional covers
Claims process support
Claims guidance and liaison with underwriters
For marine insurance planning or claims support, please contact Ocean Grow.