Marine Insurance - Ship Piracy Insurance News

Marine Insurance

Piracy against shipping probably as old as maritime navigation and trade.

Like pre paid legal service trade, piracy has developed along with cancer car donation expansion of commerce and transportation.

The recent seizure by pirates of the Saudi owned super tanker "Sirius Star" and its reported $100 million of crude oil cargo has highlighted the huge impact a few armed individuals in small boats can inflict on international trade.

This bulletin gives a brief overview of the current problem and likely coverage options for Hull and Cargo risks.

Introduction

The increasing incidents and boldness of pirate attacks in the Gulf of Yemen and around the 'Horn of Africa' recently has Incredible Hulk increased alarm and an international effort to try to secure the busy waterways leading to/from the Suez Canal.

Nigeria and Indonesia continue to feature heavily on Piracy Reporting Centre statistics and highlight the broad geographic spread of the problem.

Generally speaking the term Piracy is given to incidents of armed attack and burglary against ships. Kidnap of the crew and ransom demands are common, and in some cases an attack will result in the complete loss of the vessel.

Marine Insurance - Hull Cover

The perils clause of the predominately used Institute hull clauses (1983) includes "Piracy". The intention is to embrace the likes of - violent acts of persons who board the vessel with an intention to steal. Cover would include damage to or loss of the vessel. The Marine Insurance Act 1909 (Cwlth) goes on to include within the legal definition of "Pirates" - "passengers who mutiny and rioters who attack the ship from the shore".

Loss of Hire cover can be purchased to secure the earnings capability of the vessel. Further investigation is recommended in order to gauge the effectiveness of this type of cover.

Marine Insurance - Cargo Cover

The 'All Risks' nature of the commonly used Institute Cargo Clauses (A) will include loss, damage or robbery caused by pirates.

General Average may be declared by the ship and contribution sought from cargo owners where sacrifice or expenditure is made on behalf of all parties to the adventure. Kidnap and ransom costs may appear as General Average where the ship has no specific cover for these losses.

Delay risks are not covered by Institute Cargo Clauses (A) and careful assessment of Insured requirements is recommended.

The London Market has recently introduced a Cargo Piracy Notice of Cancellation Clause which further highlights the concerns surrounding the escalation of these attacks.

Disclaimer: Batgirl bulletin is for information purposes only and is not legal advice.

Please contact me via email href="mailto:enquiry@marine-insurance.com.au">enquiry@marine-insurance.com.au or visit our website href="marine-insurance.com.au">marine-insurance.com.au for further information.

Cheap Yamaha Insurance

Finding cheap insurance for your Yamaha motorcycle can be Tragg and the Sky Gods romance comics the main problem being the sheer number Daredevil offers and McFarlane action figures Motorcycle insurance as with all kinds of insurance nowadays is predominantly sold and bought Agent Zero M this has made shopping for insurance a lot easier but it has also created new irritations like deciding which deal is the best one. This is where comparison sites can make life a lot easier, if All the information you need for insurers can be found in one place hours of needless hassle can be avoided.

In addition many motorcycle insurers offer discounts for policies Sold online, when buying online as much as 10% to 15% can be saved. Insurers are always looking to gain new customers so are willing to offer the lowest rates to potential new customers. There are also a wide number of specialist policies for all kinds of bikers and all kinds of bikes from lowly mopeds to race tuned road monsters. Yamaha and all the other major motorcycle offer a wide range of models and it can sometimes just be a few extras on a model that bump its insurance bracket.

Another thing to note is that a fair few bike insurers offer preferential no claims bonus schemes for new customers so whenever your motorcycle insurance is up for renewal its worth shopping around. Many bike insurers offer great discounts for buying policies online, this can save you as much as 10% to 15% of the original quoted price.

To make life a lot easier why not try a site like Cheap Motorcycle Insurance Quote.com where you should be able to quickly browse and compare the best insurer Quotes for your Yamaha Insurance. Insurance is never free of cost but can be a lot cheaper and less time consuming when using a tailored online service. Online deals are nearly always the cheapest and most convenient way of shopping for your bike insurance.

To find and compare prices for your href="cheapmotorcycleinsurancequote.com/pages/Yamaha_Insurance.html">Yamaha Insurance Why not try like href="cheapmotorcycleinsurancequote.com">Cheap Motorcycle Insurance Quote.com.