Insurance Lines by Types of Damage
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Types of Damage
This chart describes the lines of insurance which should be arranged by the three main parties related to ship operation (shippers, charterers, and ship owners) according to the various types of damage each of them might suffer from or will be liable for.
Assured
Damage Types
|
Shipper | Charterer | Ship Owner |
|---|---|---|---|
| Cargo Damage | Cargo Insurance | Charterers’ Liability Insurance | Protection & Indemnity Insurance |
| Death Injury and Illness of crew |
－ | Protection & Indemnity Insurance | |
| Third Party Liability | － | Hull Insurance Protection & Indemnity Insurance |
|
| Wreck Removal | － | Protection & Indemnity Insurance | |
| Pollution | － | Protection & Indemnity Insurance | |
| General Average | Cargo Insurance | Hull Insurance Protection & Indemnity Insurance |
|
| Collision Liability | － | Hull Insurance Protection & Indemnity Insurance |
|
| Hull/Bunker oil Damage |
－ | Damage to Hull | Hull Insurance |
*This is a general example. Please note that risk and account allocation differs based on the various charter party forms.
