When it comes to meeting our clients’ needs, Nasco Middle East provides reliable marine hull insurance. In case you need more complex or specialized risk coverage, we design specific wordings.
The marine industry is highly diversified and specialized, much like the insurance needs of marine businesses and individuals. Coupled with our extensive programs with preferred insurers, we help marine clients get insurance placed correctly and at competitive rates.
We offer state-of-the-art insurance for the following specialist areas:
Hull and Machinery
Physical loss or damage cover for all types of vessels. The scope, basis and extensions of cover provided are adapted to suit the requirements of individual clients.
Protection and Indemnity (P&I)
Third party liability cover for all types of vessels. Arranged with international group clubs, independent clubs or commercial underwriters, P&I is designed to ‘dovetail’ with a vessel’s Hull and Machinery Insurance.
Hull and Machinery - War & Strikes Risks
Cover against war, strikes, riots, civil commotions etc. Generally, but not always, arranged separately to a vessel’s Hull and Machinery Insurance and extended to include war protection and indemnity risks.
Loss of Hire
Insurance designed to protect a ship owner for potential loss of earnings of a vessel (either freight or charter hire) resulting from a casualty. Cover is usually stipulated to respond in the event of a peril insured under the vessel’s Hull and Machinery policy.
Physical loss or damage cover for a shipbuilder during a vessel’s construction period. Customarily tailored and extended to include faulty design risks during a warranty period and in accordance with specific shipbuilding contracts.
Marine Kidnap and Ransom
Ensures that if a vessel is captured and a ransom is demanded, the ship-owner is able to respond quickly and with the support of experienced crisis-handling professionals to ensure the safety of the crew and the expedient release of the vessel. The plan covers the ransom paid, the loss in transit of the ransom, the fees and expenses of security experts, in addition to certain additional expenses and legal liability.
We are the endorsed insurance broker for a multitude of clients throughout UAE for which we have specifically tailored exclusive insurance programs.