Tips And Ideas For North Insurance Management Limited

Introduction

North insurance management limited is an organization that supplies various services to ship owners around the world. These services include protection and indemnity insurance, freight, demurrage and defense insurance, war risks and secondary insurance options. In this article we will present tips and ideas that pertain to north insurance and its various services on offer.

Step 1

A chief part of North insurance is their Protection and Indemnity (P and I) item. This form of insurance offers protection pertaining to seamen, cargo on board and passengers; it also offers fortification touching third party liabilities such as environmental pollution, wreck removal and property damage.

Step 2

The various factors that are covered by P and I at North Insurance are by individual case:

Seamen: Death, personal injury and/or illness are all factors that are covered by North insurance, and all related costs to these factors i.e. hospital and/ or funeral costs. Property aboard the insured ship that belongs to the seaman is also included in the insurance for loss and damage.

Passengers: Certified passengers of ships are insured in case of death, illness or personal injury. Luggage and personal items if damaged or lost are included in the policy. If the ship encounters causality (fire, explosion, collision or stranding) then this insurance will provide additional travel and maintenance for the passenger when upon shore.

Step 3

Freight, demurrage and defence in insurance are another form of protection offered at North insurance. This insurance concerns legal cost, and the exact amount of the cover is flexible. This insurance covers a wide range of legal disputes such as charter party disputes, sale and purchases disputes, crew disputes and stevedore issues. North insurance also offers invaluable advice to its members to prevent legal issues arising in the first place.

Step 4

War insurance is just what its name suggests, protection for ships which become trapped in an area that is wrought with warfare and terrorism. This includes physical loss and damage to the ship. If the ship-owners vessel becomes captured they are entitled to a recovery of daily expensive whilst the ship is detained, and if the ship ends up being captured for a period longer than 90 days the ship owner will be entitled to 10 per cent of the value of the ship in question. War insurance also covers for the chance of terrorists/ pirates entering your vessel and any consequences that may arise from this.

Step 5

The preceding stated forms of ship insurance are North’s chief forms of coverage; however they have a few additional variants for special circumstances. These include Crew Familiarisation, and ship-owners liability to cargo, they also offer coverage for marine specialisations such as diving practices, dredging and offshore construction. You can see from this that North insurance aims to cover ships for a diverse range of incidents.

Step 6

The duration of the policy year is from the 20th February 12 o’clock-noon to the following noon on February the 20th.

Step 7

As well as offering a diverse range of coverage North insurance supplies members with loss prevention publications which offer valuable insight and insurance advice.

Tips

1. Day of accident/incident is based upon Greenwich Mean Time.
2. Ships can be insured either as a single ship or as a fleet.
3. North insurance is an UK based company.

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