The marine industry is experiencing significant growth, presenting exciting opportunities for the economy. However, with this growth comes increased risks for businesses operating in this sector. At Gallagher, we are committed to adopting an innovative approach to managing risk and providing marine insurance solutions that cater to the unique needs of our clients, regardless of your size or scope.

Changing risks, unwavering support

With the marine sector facing a variety of emerging risks, our global strength and local experience work seamlessly to meet the unique needs of your business. By partnering with us, you will have access to a team of senior risk specialists to assist you whenever needed. To ensure we respond to the changing needs and risk profile, we have also developed an exclusive marine cyber risk product, whilst also having the ability to advise on any cross‑class projects within the marine sector.

Tailored cover and specialist risk management expertise

Our specialist marine insurance brokers are well placed to manage risks both old and new as we provide tailored solutions, from an insurance and risk management perspective, for clients in a broad range of marine-based industries.

The industry has evolved, allowing our clients to benefit from a logistics operators liability (LOL) product for larger operators. This product recognises the increased sophistication of logistics services and the more demanding contractual terms now prevalent in the industry.

As logistics operators increasingly engage in value-added services like labelling, procurement and vendor management, we offer comprehensive coverage for both traditional liabilities and new risks associated with diversification. Each policy is customised to meet specific operational needs and fill any gaps in existing liability coverage.

Typical cover for transport and logistics operators includes:

  • Liabilities for loss of, or damage to, cargo
  • Liabilities arising from errors and omissions including delay and unauthorised delivery
  • Third party liabilities
  • Fines for regulatory breach such as customs, pollution and safety at work
  • Investigation, defence and mitigation costs
  • Disposal costs following an accident
  • Quarantine and disinfection costs

Additional cover for transport and logistics operators includes:

  • Business interruption risks
  • FMC bonds for NVOCs
  • General average and salvage guarantees and contributions
  • Loss of or damage to owned or leased equipment
  • Property insurance such as buildings and contents, machinery and handling equipment
  • Road and rail infrastructure
  • Ships' agency liabilities

As one of the largest marine hull and machinery teams in the market, we can offer a wide range of specialist marine risk management solutions across all major maritime activities.

Our diverse hull portfolio allows us to manage risks for fleets of bulk carriers, tankers and containerships, as well as offshore, specialty and passenger ship operations. Our team has successfully placed some of the market's largest and most complicated shipbuilding operations.

Our products include:

  • Hull and machinery — including additional perils
  • Increased value
  • War risks
  • Loss of hire / business interruption
  • Kidnap and ransom
  • Mortgagees interest
  • Shipyard construction and conversion risks
  • Superyachts

Our protection and indemnity (P&I) solution is unique in that the majority of our business is direct retail, allowing our team to interact directly with our valued shipping customers.

Key features of our P&I insurance include:

  • International Group Club and Commercial Market P&I for owners and charterers
  • Strategic program advice and reviews, including benchmarking against our global portfolio. These reviews can be performed under NDA and without market contact
  • Market-leading publications and analytics

Our comprehensive charterers liability cover and defence (FD&D) insurance is available to all charterers and traders. Our clients include large shipping companies chartering vessels under a voyage or time charterparty and traders who are fixing vessels for the international transportation of their cargoes.

Key features include:

  • P&I cover exclusively for charterers providing charterers liability cover and defence insurance
  • An experienced and knowledgeable team protecting the interests of charterers
  • A range of insurance cover products tailored specifically for the needs of charterers

Our team has the experience and skills to design unique solutions that are tailored to each commodity type client's needs and integrate with other lines of insurance. We will look to find the solution for even the most challenging cargo scenarios, be it complex supply chains with multiple valuations, through to specific storage requirements including floating storage or temperature sensitive goods.

Our areas of expertise are suited to retailers, manufacturers, growers and commodity traders:

  • Oil and petroleum products
  • Pharmaceuticals
  • Metals and mining houses
  • Global contracts
  • Soft commodity business and agricultural products
  • Food and beverages, including wine
  • Frozen and chilled goods, including fish catch
  • Manufactured goods
  • Industrial and agricultural equipment
  • Construction and project cargoes including Delayed Start Up (DSU)

This policy provides coverage for a company's inventory and goods movement, covering inland and international shipments and includes raw materials, work in progress through to finished goods.

Marine liabilities, ports and terminals

With ports and terminals continuing to diversify their activities to meet both commercial and consumer demands across the globe, risks that hadn't been accounted for can often present themselves.

Our specialist team assists our port and terminal clients throughout the project lifecycle, by offering solutions from initial financing and planning, through to the construction and into the operational phase.

We offer insurance solutions across the three key operational risks ports and terminals that client's face:

  • Liability risks
  • Property and handling equipment risks
  • Revenue stream risks / business interruption

SmartProtect Cargo and Carriers

Exclusive to Gallagher, a solution offering comprehensive cover for clients that have any transit or storage risks locally and overseas.

  • Exclusive all-risk policy covering any physical loss or damage from any external cause
  • Annual open policy automatically insures your cargo on set terms, conditions and premiums without the need to contact your insurance broker each time
  • Most normal exclusions are covered and automatically added on to the policy
  • Priority service if you need to make a claim

Your trusted partner in managing marine risks

At Gallagher, we take a proactive approach to risk management by leveraging our industry experience and staying informed about trends and developments to mitigate emerging risks. Our expertise in maritime cybersecurity and regulatory compliance makes us your trusted partner, ensuring a safer and more sustainable future for your operations.

Why choose Gallagher

  • Local expertise, global strength
  • Priority claims service to support and guide you if something does go wrong
  • Marine specialists that get to know your business
  • Access to exclusive products and facilities like SmartProtect Cargo and Carriers
  • Marine Cyber Risk pro to respond to the changing needs and risk profile

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