This insurance type provides coverage against liability for loss or damage to vessels, cargo and property of others while in the custody or control of the terminal, dock, wharf or pier operators. The term ‘terminal’ has a broad definition, which may include the material goods and activities surrounding wharves, piers, docks, stevedores, storage tanks and warehouses. Because of this, the cover is usually tailored to clients’ needs and frequently extended to include stevedores’ liability which provides insurance protection against claims arising out of cargo-handling operations.
What is covered
Key information requested :
- Types of operation performed - Contracts/indemnities (ex. subcontractors) - Annual volume - Information on property and equipment - Loss prevention measures - Claim history