The marine, shipping and logistics industries are the lifeblood of the global economy and present a range of risks that are diverse in nature. Perhaps more than any other area of commerce, these sectors rely on insurance to keep moving. Every link in the chain - from port and terminal operators, vessel owners and managers, to manufacturing, shipping and logistics companies - is exposed to both natural and manmade perils. Nobody understands marine insurance better than Chubb: we cover the globe. Our London-based underwriting team at Chubb Global Markets are also able to access our well established worldwide network where required, including the skill, knowledge and experience of local underwriters, risk managers and claims personnel to deliver an unparalleled service across the marine insurance spectrum.
Marine Cargo Insurance
Our cargo insurance team offers a range of cover that includes physical loss or damage events such as: theft, pilferage or hijack; handling and transit damage; loss resulting from vehicle, vessel or aircraft damage including total loss and more specialist cover such as damage to critical parts during transit and resultant delay in start-up for large projects. Products can be offered that provide standardised or customised cover, including sophisticated global programmes which require local policy issuance, as well as multinational premium collection and claims handling;
Hull and Associated Risks
Chubb Global Markets offers cover for a wide range of marine commercial hull and machinery interests for both blue & brown water vessel operators, and for coastal and more specialist non-cargo type operations, including partial and total loss.
Cover is also provided for a variety of associated risks including marine war and associated perils; freight and other total loss interests; mortgagees interest and physical damage for tonnage under construction or conversion.
We provide cover for most types of ocean-going vessel, including cruise and ferry and Ro-Ro tonnage, dry and wet bulk carriers, LNG carriers, container and general cargo vessels, as well as more specialist assets such as those deployed in support of the offshore industry.
Chubb Global Markets also provide cover for a range of smaller commercial craft used for a variety of different types of operation.
Marine Liability
Chubb Global Markets provides third party marine liability cover to various businesses active in the shipping industry, from ship repairers and charterers to port and terminal operators. Coverage typically addresses liabilities arising from loss of life, bodily injury and damage to third party interests. Our marine liability capacity is provided mainly on a subscription basis and is only available through specialist brokers in the Lloyd’s market.
Yacht Insurance
Owners of luxury pleasure craft and mega yachts benefit from the comprehensive insurance protection offered by Chubb Global Markets.
Policies are typically underwritten on a subscription basis and are only available through specialist brokers in the Lloyd’s market. Our standard policy covers physical loss or damage for hull and machinery, and personal effects, including cover for named windstorm.
Fine art and Specie Insurance
Chubb Global Markets underwrite a range of fine art and specie risks through a specialist team based in London. We offer products for both commercial and private interests covering valuable and often unique assets such as fine art, collectibles, cash, diamonds and precious metals, rare documents, stamps and coins. Bespoke cover can be provided for physical loss or damage while in transit, in storage or on display and can be enhanced with specialist extensions such as infidelity, mysterious disappearance and defective title.