Hull - Increased Value

Additional indemnity is provided to that provided for under the insured’s hull and machinery policy following total loss of the vessel.

What we offer

Value over and above that covered under the hull and machinery policy in the event of total loss. Coverage would not usually exceed 25% of the value stated in the hull and machinery policy. All subject to the terms and conditions of the actual policy.

Up to US $50,000,000

How can we help

Additional amounts covered following total loss of a vessel.

The Beazley Difference

BEING BOLD

Freedom lies in being bold. We dare to be different and seek bold possibilities to create more innovative, fair and satisfying outcomes for our clients, brokers and employees. From insuring the highest building in thea world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.

STRIVING FOR BETTER

Good is a start, but we go all-out for better. A driven community of individuals relentlessly push the needle and creating value. From launching the market’s first dedicated ESG syndicate to the establishment of our business unit focusing on designing digital insurance solutions, we pride ourselves on always going above and beyond. Simply put, at Beazley we go to 11.

DOING THE RIGHT THING

Acting with integrity in a straightforward, decent way is instinctive. Open and honest with others, we show respect and empathy however challenging the situation – demonstrated by our multi-award winning claims team. Doing the right thing makes for a fair-minded, rewarding environment and makes work and life better for all.

Examples or Scenarios

A ship’s hull is damaged while being towed in poor weather, triggering a claim for physical damage. Our marine claims team is available around the clock to respond and immediately notifies our in-house marine engineer. Our highly experienced engineer makes contact with the ship owner and assesses the risk remotely and works with the Beazley claims manager to organise a tug to get the damaged ship to safety. Having in-house resources to assess and manage the claim enables us to act swiftly in identifying the cause of loss and managing claims costs and ultimately resolving the client’s claim.