Overview
Our coverage indemnitifies the mortgagee (relating to a hull and
machinery policy) for outstanding monies due to them in the event
of non payment of a claim following a breach of warranty by the
operators of the vessel.
Details
We provide coverage to indemnify the mortgagee (relating to a
hull and machinery policy) for outstanding monies due to them in
the event of non payment of a claim following a breach of warranty
by the operators of said vessel.
We will pay these losses
Outstanding money (loans and interest) due to mortgagees as
outlined above. All subject to the terms and conditions of
the actual policy.
Limits available
Up to US $37,500,000.
Target market
Financial Institutions involved in the maritime industry.