[LONDON, 23/10/2019] – In an increasingly unpredictable natural environment, shipowners require secure coverage to protect their assets and profits. Although large vessels are often the focus of many insurance companies, small and specialist ships also need protection from different risks such as adverse weather and accidents.
The MECO Group offers Carina P&I insurance for small and specialist ships that trade internationally, domestically or on inland waterways to provide them comprehensive protection from a variety of risks at sea.
Carina’s P&I Coverage
Under the Carina P&I insurance, small ship owners will receive coverage of up to US$500 million for a fixed premium. They are also supported by Lloyd’s of London’s A+ security.
The insurance policy covers owners against claims related to:
• People: Members of the crew, passengers, persons rescued at sea, refugees, stowaways
• Property and the environment: Collision with other ships, damage to other ships loss or damage to property not on board the ship, loss or damage to property on board the ship, pollution, special compensation to salvors
• Other matters: Enquiry expenses, fines, general average, legal costs and sue and labour
Legal Assistance and Defence
The Carina P&I insurance policy also covers shipowners against legal costs and expenses from pursuing claims related to contractual disputes or the operation of the ship. The process is managed by Carina’s underwriting and claims teams, who have years of knowledge and experience handling various insurance cases.
Risks covered by legal assistance and defence include:
• Contracts of carriage
• Detention and delay
• Freight, hire and demurrage
• Loss and damage
• Port and customs
• Salvage and towage
About The MECO Group
The MECO Group takes pride in delivering first-class insurance products and consultancy services to the global shipping and logistics market. Composed of a diverse team of dedicated and knowledgeable marine insurers, they have regional hubs in London, Dubai and Shanghai.
Since their establishment in 2013, the company has been providing innovative insurance products to help clients manage risks more efficiently. Clients can also benefit from The MECO Group’s consultancy services in which they receive assistance in resolving disputes and drafting shipping contracts.
For more information, visit https://www.themecogroup.co.uk/.