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.