potential liability for damage to vessels being worked upon, and for third party liabilities. Special tailored extended cover is available for larger yards or operators, eliminating the need for certain public liability insurances.
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Ship repairers are responsible for vessels and equipment in their care custody and control. They are also responsible for third party liabilities arising in the course of their ship repair operations. The ship repair industry is a diversified business segment which has led to more complex and, in some ways, more sophisticated insurance requirements.
Ship Repairers Liability is affordable insurance to protect smaller or part-time ship repairers against potential liability for damage to vessels being worked upon, and for third party liabilities. Special tailored extended cover is available for larger yards or operators, eliminating the need for certain public liability insurances.
ABNIC Ship Repairers liability insurance provides you protection against such liability including liability for third party costs and expenses up to the limit agreed, caused by your negligence or the negligence of your servants, agents or subcontractors. In addition, this policy also covers your legal defence costs.
ABNIC is also extensively involved in Aviation insurance and can provide cover for hulls and liabilities related to general aviation and airline industry.
Ship Repairers Liability Insurance is a type of insurance policy that provides coverage for ship repairers in the UAE against legal liability arising from damage or loss to a customer's vessel under their care, custody, or control. This insurance policy covers the financial losses that may result from accidental damage or loss to a customer's vessel, and the subsequent legal liabilities that arise from such incidents.
Ship repairers in the UAE are responsible for the repair and maintenance of various types of vessels, including commercial ships, yachts, and pleasure crafts. While performing their duties, ship repairers may inadvertently cause damage or loss to a customer's vessel, which can result in significant financial and legal liabilities. Ship Repairers Liability Insurance provides financial protection against such losses and legal liabilities, ensuring that ship repairers can operate their businesses with peace of mind.
The coverage provided by Ship Repairers Liability Insurance includes damage to the vessel under repair, third-party bodily injury or property damage, and legal expenses associated with defending claims. The insurance policy also covers losses resulting from errors or omissions made by the ship repairer, including negligence or breach of duty.
Ship Repairers Liability Insurance is not mandatory in the UAE, but it is highly recommended for ship repairers who want to protect their businesses 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 Ship Repairers Liability 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 Ship Repairers Liability Insurance coverage with competitive premiums and excellent customer service. With Al Buhaira Insurance, ship repairers in the UAE can operate their businesses with confidence, knowing they have adequate financial protection against unexpected losses and legal liabilities.
Here are some frequently asked questions about Ship Repairers Liability Insurance in the UAE:
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