MARINE INSURANCE

NNPC offers a complete package of shipping insurance services and products, tailored to the business owners’ risks, wishes and requirements. Our advisors will work with you to put together the right package for you. Below is a selection of the options available.

P&I Insurance

The Protection & Indemnity insurance covers the risks associated with shipping goods, raw materials and products. This insurance among other things covers cargo damage, oil pollution and accidents on board. The P&I insurance is always taken out in combination with the legal assistance insurance.

Legal assistance

The legal assistance insurance (FD&D) offers assistance in the event of problems and covers the costs of legal disputes/advice relating to an insured ship. For example, disputes relating to laytime or freight collection. Unlike other FD&D insurers, NNPC does not charge any policy excess for this. In principle, the costs are covered up to €100,000. Coverage can be extended to €5,000,000 for a limited additional premium.

Crew insurance

The NNPC crew insurance fits in seamlessly with the P&I and legal assistance insurance and offers considerably more extensive cover than the traditional (commercial) crew insurance. The insurance covers shipowners’ liabilities under the employment contracts of crew members.

Kidnap & Ransom

As the name suggests, the Kidnap & Ransom insurance covers the costs in the event of hijacking. NNPC offers worldwide coverage with the exception of high-risk areas. For these areas (HRA), additional insurance can be taken out.

Ship Owners Liability

Ship Owners Liability (SOL) is an additional liability insurance for owners of ships for risks that do not fall under P&I. The insurance covers, among other things, risks incurred as a result of deviations from a ship’s original course and the risks of unloading without a bill of lading.

Charterer’s Liability

The Charterer’s Liability is a P&I insurance for charterers and applies when chartering the vessel.

Offshore coverage

This additional insurance covers the risks of vessels operating offshore which are not covered by the P&I insurance.

Damage to Hull / Bunkers

The Damage to Hull insurance (DTH) is a hull insurance for charterers. The bunker insurance covers problems with charterers’ bunkers.

Specialist operations

This additional insurance covers the risks of special operations that are not covered by the P&I insurance.

Construction insurance

A special legal assistance insurance for problems/disputes that may arise during the construction of new ships.