The Continental Steamship Owners Mutual Protecting & Indemnity Association Ltd provides Hull and Machinery insurance which covers the insured’s economic interest in the ship, yacht or barge and its equipment. The cover is offered for total and partial losses of the insured property. In addition to protection against physical damage to the ship, yacht or barge, H&M can also extend to the insured’s collision liability arising from contact with another ship or liability related to striking fixed or floating objects. The insurance will also cover the assured’s sue and labour expenses, general average costs as well as salvage costs.
Cover is always subject to standard market conditions including the English Institute Time Clauses Hulls 1/10/83. The scope of cover solely depends on insured’s requirements.