Marine Hull Insurance Policy PDF

Gulf Union Insurance & Reinsurance Co.
BSC(C)
Marine Hull Policy

Who can take the Policy?
Ship-owners, charterers, Shipbuilders, bankers, financiers of Ships or vessels who have Insurable interest. Top
Perils / Risks
(A) The policy covers perils of the seas, rivers, lakes or other navigable waters
loss/damage to the property insured caused by:
 Fire, explosion
 Stranding, sinking etc.
 Overturning, derailment ( of land conveyance )
 Violent theft by persons outside the vessel.
 Collision
 General average sacrifice, sacrifice, salvage charges
 Jettisons
 Piracy
 Breakdown of or accident to nuclear installations or reactors
 Contact with aircraft or similar objects, or objects falling therefrom, land conveyance , dock or harbour
equipment or installation.
 Earthquake volcanic eruption or lightning.
 Crew Negligence.
Exclusions
The policy does not cover loss/ damage due to :

 Deliberate damage/destruction of the vessel by wrongful act of any person
 Use of any weapon of war employing atomic / nuclear fission and or fusion.
 Radioactive Contamination, Chemical, Biochemical, Biological, Electromagnetic Weapons.
 Insolvency or financial default of the vessel owner /operators /charterers
 War / civil war, Strike, Riot or Civil Commotion
 Any terrorist or person/s acting with political motive
(B) COMPREHENSIVE PORT PACKAGE POLICIES:
Cover can be purchased by :-

 Port Authorities
 Port / Terminal operators
 Private Jetty Owners
Scope of Comprehensive covers :-
 Physical Damage
 Third Party Liability
 Business Interruption
 Terrorism
 Wreck Removal
 - H & M Cover for Vessels
Copy Right: Gulf Union Insurance & Reinsurance Co BSC©: No Part of this document may be copied
Exclusions :-
 Confiscation, requisition, detention

 Blocking of sewers, drains
 Wear & Tear, deterioration
 Error in design, workmanship
 Mechanical / Electrical Breakdown
(C) Oil & Energy Risk Insurance Policies:
 Cover can be purchased by - Oil and Energy Industries.

 Scope of Comprehensive covers -
 Offshore / Onshore constructions / Erections ( Builders Risks )
 Production / Operation Cover - Well head platform/ process platform.
 Exploratory Drilling (Offshore - Jack Up Rigs, Drilling Rigs, Semi Submersibles etc. Onshore- Fixed
Land rigs, Mobile Land Rigs, Work-over Land rigs)
 Seismic Survey
 Single Buoy Mooring ( SBM )
 Under water pipeline / Cable Insurance
Claim Intimation and Steps to be Taken by Owners:
In the event of casualty likely to give rise to a claim
 Immediate notice to policy issuing office.

 Giving brief details as to name of vessel, place of occurrence, date & time of casualty, circumstances
leading to incident.
 Seek appointment of surveyor to inspect and assess loss.
 In case of theft please notify police.
 In case of fire assistance of fire brigade to extinguish fire.
 Appointment of adjuster in case of Oceangoing Vessels where necessary.
 All steps to minimize loss as prudent uninsured.
Documents Essential:
 Certified copy of note of protest by master

 Marine casualty form issued by M.M.D.
 Insured's report on occurrence.
 Survey Report
 Original Repair Bill, cash memo, Invoices
 Weather Report by Meteorological Dept.
 Affidavits filed by rescue vessels
 Certificate of survey for inland vessels
 Registry certificate
 Free board certificate
 Load line certificate (where applicable )
 Status / copies of Mandatory certificates
 Notarized statements of master and chief engineer of the vessel.
 Log Book extracts (Engine & Deck )
Gulf Union Insurance & Reinsurance Co. BSC(C)
 Crew list with details of competency certificates.
 Copy of Claim bill with supporting documents.
Highlights
Covers any loss or damage to ships, tankers, bulk carriers, smaller vessels, fishing boats and sailing vessels. Top
What is covered?
 All types of Oceangoing vessels
 All type of Coastal/Inland vessels
 Yard and pleasure Crafts
 Port Crafts
 Shipbuilding- construction of vessel
 Ship Repairers' Liabilities
 Charterers Liabilities
 Breaches of warranties / voyage cover
 Freight- at -Risks insurance for voyages
 Dredgers
 Fishing vessels / Trawlers
 Sailing Vessels
 Jetties ( with or without cranes ), fixed pontoons/Pontoons Jetties, wharves etc.
 Shipbreaking Top
Scope of Insurance Cover:

All risks relating to Vessels, Floating Dry Docks, Jetties and Ship owners’ Interests including Hull & Machinery
(H&M), Freight, Disbursements, Increased Value, Premium Reducing, Excess Liabilities, Protection and
Indemnity (P&I) Liabilities, Charterers' Liabilities, Charterers' Freight, Charterers' Hire and/or Disbursements,
General Average Disbursements, Ship Repairers' Liabilities, Shipbuilding Risks, Shipbreaking Risks and other
allied interests of whatsoever nature required to be insured in Bahrain Top
Top
Note: Policy details given are indicative, not exhaustive. Please contact your Gulf Union Office for further
details.
You are in Safe Hands

Customer Service:
Building 331, Road 5616, Shaikh Salman Highway,
Manama 356, PO Box 10949 Kingdom of Bahrain. Phone: +973 17255292
Copy Right: Gulf Union Insurance & Reinsurance Co BSC©: No Part of this document may be copied

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Gulf Union Insurance & Reinsurance Co.

Marine Hull Policy

The policy does not cover loss/ damage due to :

(B) COMPREHENSIVE PORT PACKAGE POLICIES:

Cover can be purchased by :-

Scope of Comprehensive covers :-

 Confiscation, requisition, detention

(C) Oil & Energy Risk Insurance Policies:

 Cover can be purchased by - Oil and Energy Industries.

Claim Intimation and Steps to be Taken by Owners:

In the event of casualty likely to give rise to a claim

 Immediate notice to policy issuing office.

 Certified copy of note of protest by master

Scope of Insurance Cover:

You are in Safe Hands

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