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ACQ 2016-1

Introduction of Strike & Delay

This cover protects the assureds for loss of income if the ship is delayed as a result of some perils. Cover is normally divided between ashore and onboard incidents.

Shore risks (Class I & II) – Cover can be obtained for labour disputes and/or forcemajeure incidents such as fire, explosion on land, mechanical breakdown, landslides, port / waterway closure, severe weather etc.
Onboard risks (Class III) – Cover can be obtained for strikes, stranding / grounding / collision /, illness / injury / death, presence of drugs on board, actual or alleged pollution of vessel, quarantine etc.

Marine Delay insurance can be suited to owner / charterer / operator’s particular operation. Usually the maximum limit of indemnify of this cover is 14 days. It could be used as a supplementary cover to the standard loss of hire in which the deductible is 14 days.