Hull and Machinery Insurances for Fishing Industry

Just as for insurance in the ocean going sector, the cover for fishing vessels can also be based on the "Allgemeine Deutsche Seeversicherungs-Bedingungen" (ADS) and the "DTV-Kaskoklauseln".

The ADS, which date back to 1919 have been adapted over the years to provide for the newest requirements of the shipping industry.

This took place in the form of the "DTV-Kaskoklauseln", which on one hand took the current changes into account and on the other hand integrated the broker’s clauses in the conditions, whereby a transparency was created within them.

An insurance cover, based on the ADS conditions is also known as an "all risk cover" including the collision liability. The insurer carries an all risks coverage, which the vessel is exposed to during the period of said cover. That means he (the insurer) indemnifies all damages of the insured vessel, which were caused by an insured risk or which are a consequence of them.

But there are also some risks in the ADS-Conditions, respectively in the "DTV-Kaskoklauseln" which are excluded. Following risks or damages for example are excluded:

	War, civil war, warlike events and hostile use of war material
	Seizure, withdrawal or other interferences by the state
	Damages , caused by delay, age and wear and tear
	Nuclear power

In order to create a tailor-made cover for the demands of the fisherman, it is possible to restrict/reduce the cover. It is possible to arrange a cover, based on the ADS-conditions, but amended to provide cover, for example, against Total Loss of the vessel or to exclude damages caused by collision generally

Naturally, Georg Duncker also offers coverage based upon other internationally approved insurance conditions, such as e.g. the English conditions.

In addition to Hull & Machinery insurances, we also arrange the other lines of insurance products that owners require in addition to Hull & Machinery and run parallel to same:

	Liability Insurance / P & I
	War Risks Insurance
	Additional-/ Special insurances

Wreck removal in the port-area

Salvage operations after collision