Marine Risk Management
Marine Risk Management

Mortgagee Interest and Mortgagee Interest- additional perils

MII provides cover in respect of perils which are covered by the vessel’s policy (and/or club cover ) but not paid for one of the following reasons.

What is covered

- Breach of warranty
- Unseaworthiness
- Non- payment of premium
- Class and or ISM breach
- Misrepresentation, etc.

In addition to the above, MII policy responds at situations where a claim under a Hull policy not being proven to be caused by a peril of the sea, where vessel sinks and the cause is not proven, disputes between Hull and War underwriters and also time barred claims.

MII-Additional Perils

Responds to situations and liability claims – pollution – for an insured peril, where owners pandi policy limits are not adequate. Particularly important where a shipowner has arranged a 'fixed premium' pandi insurance for limits less than available from a mutual entry in an IGA club.

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Mortgagee Interest and Mortgagee Interest- additional perils

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Mortgagee Interest and Mortgagee Interest- additional perils

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