The Mortgagee is covered for breach of contract and/or warranty by the Shipowner that will result in the Shipowner’s cover being void.
Mortgagees Interest Additional Perils
Mortgagees are covered for liability awards (usually Pollution) exceeding the applicable limit insured under the Marine Liability Insurances (P&I).
A cover parallel to Mortgagees Interest Insurance where lessors are passive investors, i.e. an actual Shipowner with a bareboat charter.
Time Charter Default Policy provides a guarantee of a secured value for the C/P in the event of the financial failure or protracted default of the charterers.
To protect buyers and their financiers against failure of guarantor’s obligations under the refund guarantees issued following default of the Shipbuilder.
Covers the buyer against unknown liens to the buyer at the time of purchase and provides financial cover against claims being enforced against the vessel under new ownership.