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The “charterer’s liability insurance” is a type of marine insurance. Most ships are chartered either on a time charter or voyage charter contract. In both cases the charterer assumes liabilities towards the shipowner because of damage caused to the ship in the course of cargo-handling or because of damage resulting from an unsafe port or berth. And also, the charterer becomes liable similarly to the shipowner, with P&I liability to cargo, pollution claims and etc. All charterers require cover for both damage to hull and other P&I liabilities. The so-called “charterer’s liability insurance” provides coverage for such risks.
Claims may arise in a variety of circumstances, such as when a charterer instructs a shipowner to load a cargo that unexpectedly damages a vessel’s cargo holds, or when a charterer orders a vessel to an unsafe berth which leads to grounding damage.
Charterers can find themselves with a liability for many P&I risks, but cargo claims are the most common area of exposure.
Scope of Cover
The terms of the cover are based on the Owners’ P&I Rules and the add-on for traders and cargo owners.
– Cargo – Pollution – Personal injury – Damage to hull – Salvage – Detention and similar delay – Damage to other property – Freight and bunkers contribution to general average – War risks (including terrorism) – Fines (customs, immigration and accidental pollution) – Wreck removal