Professional protection against third-party claims
Charterer’s Liability Insurance
Being active around the globe: that is the motto for shipowners offering professional maritime transport services. It should therefore also be the principle guiding the insurance cover that comes into play in liability situations. After all, it is essential for charterers to avoid the costs incurred by third-party claims. Charterers Liability offers the best possible solution. As one of the leading underwriting agencies, HKVA - Hanseatische Kasko Versicherungsagentur - is a high-quality partner for insurance specialists who provide specialised cover for ship owners and logistics companies. This overview provides you with the most important information about our competencies. If you have any questions, we are here to assist you with all our expertise.
What can lead to claims for damages against the charterer?
Maritime transport involves risks. Due to the charter parties that are part of the contractual chain, claims for damages may also be made against the charterer. The nature and amount of these claims depend on the conditions, which are agreed upon in the charter parties. Typical examples where charterers' Liability insurance is an important investment include:
- Environmental pollution
- Fines
- Calling at an unsafe port or berth
- Damage caused by stevedoring companies commissioned by the charterer
- Stowaways on board
- Costs for wreck removal
This list alone demonstrates that there are many areas of application for insurance against third-party claims and thus charterer’s liability.
The purpose of Charterer's Liability
Charterer's Liability insurance protects the charterer against potential claims for compensation. It is therefore an essential element of a tailor-made insurance portfolio for ship owners and logistics companies. It provides worldwide protection for all aspects of charter parties with a high degree of relevance to specific liability situations. Every logistics company therefore benefits from this comprehensive protection against potential claims for damages. In the event of third-party claims, when charterers may face especially high costs, the charterers' Liability insurance even serves as protection for the company itself. It is important to note that the liability arising for the shipowner from the charter parties also applies to partners – such as freight forwarders and transshipment companies. The activities of ship brokers and those involved in loading and unloading or issuing relevant documents for maritime transport at home and abroad must also be taken into account in this context. This means that the large number of parties involved in shipping generates more sources of error – and thus, of course, claims for damages against the charterer.
Insurance cover for Charterer’s Liability
As an underwriting agency with a long tradition and a reputation for innovation, we are committed to accurately assessing the insurance cover required and providing individually tailored insurance concepts. We are a powerful partner for insurers, offering products that deliver lasting benefits for the client. In this context, it is important for us to carefully review existing charter parties, as they form the basis for Charterer's Liability insurance policies.
Your contact for optimised Charterer's liability insurance
Every commercial shipping company is different. This means that the requirements for marine insurance policies also vary. Thanks to our expertise, we at HKVA are the partner of choice for individual insurance cover in commercial shipping. Of course, this applies not only to charterer’s liability, but also to all other industry-specific insurance services that are in force worldwide.
Are you interested in high-quality insurance cover? Get in touch with us – we look forward to hearing from you!