Subject of insurance

Liability of the insured as a ship repairer for losses and/or expenses to third parties, after the guilt has been proven or a person for whom the insured is responsible is found guilty.

The following risks are covered:

  • damage to the vessel – ship, vessel equipment, spare parts or cargo whilst in the care of the insured for the purpose of being repaired, inspected, painted, subsequently worked upon, whilst on trial navigation, standing or being housed,
  • damage to third party property arising from any ship repairing activities of the insured or his employees,
  • expenses and compensations the insured is obliged to cover due to his liability for loss of life or personal injury directly or indirectly arising from the vessel that is in the care of the insured for the purpose of being worked upon,
  • defence expenses against ungrounded and excessive claims for indemnity in respect of any damages to the vessels or thereby whilst in the custody of the insured.

The insurer is not obliged to indemnify insured against:

  • losses of insured’s person property
  • expenses and compensations due to the death or injury of insured’s employees or members of their families or other persons engaged in any respect by the insured for the purpose of performing specific business  activities,
  • losses occurred upon return of vessel to its owner,
  • losses arising from any intentional acts or acts of gross negligence of the insured,
  • losses incurred as a result of any delay in the completion of the agreed repair,
  • losses incurred as a result of any defaults in repair contract fulfilment, i.e. work specification,
  • losses covered by the insured without prior approval by the insurer,
  • losses arising from war and political risks,
  • loss incurred as a result of earthquake,
  • receivables arising from a loss or inability to use tangible or intangible property, loss of data, disclosure of confidential information or any other loss which is directly or indirectly related to receiving or transferring a computer virus or other malicious program via the Internet or by any other electronic means, as well as by unauthorized interference with the Internet connection, network, computer or telecommunications device.

The insured is obliged to promptly and without delay report each loss to the insurer so that the average adjuster appointed by the insurer, i.e. competent organisation could determine the scope and amount of loss.

The insured is obliged to immediately provide the insurer with any one claim submitted by any claimant, together with his own documents and data about the loss.

The insurer is obliged to provide assistance to the insured in exercising the right to recourse and to take measures to protect all property – legal interests of the insurer towards any persons liable for damage.