Marine Insurance

What is Marine Insurance?

The scope of a marine insurance policy varies and is generally determined by the underlying nature of the risk.

Marine Cargo Insurance covers physical loss or damage to goods imported, exported or transported within Namibia by any professional mode of transportation, be it ship, plane, train or truck. It therefore appeals widely to shippers within international trade and professional hauliers. Ask us about our stock-throughput offering and project-type cover.

Marine Hull Insurance covers physical loss or damage to the actual watercraft and by extension certain liabilities to passengers or third parties. Watercraft typically insured in the Namibian market include private pleasure craft and commercial hulls such as fishing fleets located in local waters.

Hollard’s Marine Liability products also covers the legal liability needs of ship repairers, shipbuilders, charterers and stevedores.

Depending on the kind of insurance requested, exclusions can and do apply.

Typical exclusions to Marine Cargo Insurance include, amongst others:

• Loss, damage or expense resulting from deliberate damage or wilful misconduct by the assured
• Ordinary leakage or wear and tear of the insured goods
• Loss caused by delay
• Unseaworthiness of a vessel or craft
• Insufficiency or unsuitability of the packing by the insured