This insurance covers the legal liability of a marina operator towards the owners of private pleasure watercrafts. The coverage is designed to protect the Marina Operator against property damage which may occur to private pleasure vessels while in his care, custody and control. It also provides protection against liability for damage to customers’ watercraft, engines and outboard motors.
Any person who owns and/ or operates a marina.
The insurance protection is provided for operations of the Insured at his premises covering:
This insurance covers the dealer’s stock for physical damage to vessels until sold and delivered to the owner. The policy can be extended to provide Hull & Liability coverage during demonstration afloat for a prospective buyer as well as for vessels being transported from the manufacturer’s yard for the purpose of sale. This type of coverage is usually written in conjunction with a Marina Operators Legal Liability policy.
This coverage insures the legal liability a ship repairer has for damage to vessels while in their care, custody and control. Many repairers have their own yards where all repair work is performed. Ship Repairer’s Legal Liability (SRLL) provides protection for contractors’ legal liability during the repair or alteration of a customer’s vessel at their shipyard, other locations, or at sea.
Vessel repairers and contractors who work on ship components.
Liability for damage to vessels, equipment and cargo on board during repairs or alterations or while on trial trips. It may also cover damage to the property of others arising from the vessel under repair and include bodily injury.
The insurance is provided on London Ship Repairer’s Legal Liability Clauses.
ABNIC is also extensively involved in Aviation insurance and can provide cover for hulls and liabilities related to general aviation and airline industry.
Marine Liabilities Insurance is a type of insurance policy that provides coverage for various types of liabilities that may arise in the maritime industry in the UAE. This insurance policy covers the financial losses that may result from damage or loss to cargo, third-party bodily injury or property damage, environmental damage, and legal liabilities that may arise from marine operations.
The maritime industry in the UAE includes activities such as shipping, transport of goods, offshore exploration, and cruise operations. These activities involve various risks that can result in significant financial losses and legal liabilities. Marine Liabilities Insurance provides financial protection against such losses, ensuring that maritime businesses can operate with peace of mind.
The coverage provided by Marine Liabilities Insurance includes protection against third-party bodily injury or property damage caused by the insured's vessel or operations, damage or loss to cargo, damage to port or harbor installations, and environmental damage resulting from marine operations. The insurance policy also covers legal expenses associated with defending claims.
Marine Liabilities Insurance is not mandatory in the UAE, but it is highly recommended for maritime businesses that want to protect themselves from unexpected financial losses and legal liabilities. Insurance companies providing this type of coverage in the UAE must be licensed by the Insurance Authority, which regulates the insurance industry in the country.
When selecting an insurance provider for Marine Liabilities Insurance, it is essential to choose a reputable company with experience in the marine insurance industry. Al Buhaira Insurance is one such company that provides comprehensive Marine Liabilities Insurance coverage with competitive premiums and excellent customer service. With Al Buhaira Insurance, maritime businesses in the UAE can operate their operations with confidence, knowing they have adequate financial protection against unexpected losses and legal liabilities.
Here are some frequently asked questions about Marine Liabilities Insurance in the UAE: