Clarity, Focus Key to Liability Cover in the OSV Sector

MarineLink.com
Monday, October 07, 2013

The Shipowners’ P&I Club, experts in the provision of liability insurance for specialist vessels, is on a mission to bring clarity to policy wordings; the in-depth knowledge accrued from its particular focus on certain sectors of the global fleet assists the club in making insurance cover easier to understand. To this end, the club has recently published an outline of its Specialist Offshore Packages along with guidelines for owners and operators entitled “Know Your Cover.”

Over the last thirty years Shipowners’ p&I Club said it has seen significant expansion in the offshore sector; these vessels (OSVs) have become larger and more sophisticated and their activities, for instance in dynamic support and construction operations, more complex. The club said it has maintained focus in providing appropriate cover for such support vessels in the offshore oil and gas sector. This specialist focus delivers to owners and operators underwriting and claims service. The recently published guidelines, which offer insight into the cover provided to OSVs, is further proof of this dedication.

The club has issued a series of publications to help this process; two policy documents dedicated to the Basic and Enhanced Specialist Offshore Packages; a brochure designed as a guide to these packages and a detailed description of the packages entitled “Know Your Cover.”

In addition to the traditional P&I liabilities associated with the operation of any commercial vessels, such as collision, pollution, crew and wreck liabilities, comprehensive cover can also be provided for contractual liability and third-party liability claims arising from specialist operations.

Within the guide to liability packages, the club has addressed the subject of naming a contractor or a charterer as an additional assured.

 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

DP World Receives 1st Scheduled Vessel at New Terminal

DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility.

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

Offshore

Rederij Groen Takes Delivery of 7-Waves

Rederij Groen’s entire SRSV fleet built by Damen Maaskant Shipyards Stellendam. Dutch offshore services company Rederij Groen has taken delivery of the 7-Waves,

New Oil Field Found in British North Sea

GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f

Three Dead in Offshore Platform Accident

Three workers were killed and one is still missing after an accident at one of the offshore oil and gas platforms in the Caspian Sea in Azerbaijan, Azeri state energy company SOCAR said on Thursday.

 
 
Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1800 sec (6 req/sec)