Loss-of-Hire

Insu­rance cover

Ship owners and char­te­rers are exposed to a complex market envi­ron­ment with regular ups and downs. If expected reve­nues from charter or freight contracts are lacking, this can have devas­ta­ting conse­quences for the parties involved in the vessel and their financiers.

In the event of a claim in the asso­ciated repair period, ongoing costs and regular payments to the mortgagee continue to accrue even though no income can be gene­rated from the vessel.

Our insu­rance concepts for seagoing and inland vessels enable owners and char­te­rers to keep the finan­cial impact of damage to the vessel calculable and to protect their cash flow.

The cover is always based on a number of agreed days (or partial days) on which the vessel is out of service due to a claim reco­verable under the hull insu­rance. The amount of the daily indem­nity can be freely deter­mined on the basis of the income situa­tion and also be adjusted within the term.

Dealing with inter­na­tional wordings for seagoing vessels from the Scan­di­na­vian, English and German markets is no chall­enge for us. For inland ship­ping, we provide our own insu­rance condi­tions, but here as well we are very fami­liar with all the stan­dard market characteristics.