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Loss of Hire Insurance is considered as one of the most
important insurances for shipping-companies and is conducive for
them to ensure a stable financial year. Georg Duncker is able to
offer this insurance for the blue-water business as well as for
the brown-water business on very favourable terms. The
advantages of the Loss of Hire insurance are very often
underestimated as are the financial repercussions, which could
occur in consequence of an Hull & Machinery claim. Nearly
every Hull & Machinery damage also causes unemployment for
the vessel during the time of the repair. During this time the
vessel can be "off hire" with no earnings being
possible in this time. Nevertheless the daily costs have to be
paid and beyond this, the actual loss of time for the vessel can
be higher than the time actually needed for the repair. This
occurs when the delivery of replacement parts takes a long time
or the vessel has to be moved to a far-away/distant shipyard.
Thus Loss of Hire periods, which are caused by
an Hull & Machinery claim can be covered by a Loss of Hire
Insurance whereby the insured will be indemnified for the
financial loss he has suffered.
One of our experts is looking forward to
develop a tailor-made cover for you.
In addition to Loss of Hire insurances, we
also arrange the other usual lines of insurance products that
owners require in addition to Loss of Hire and run parallel to
same:
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Hull & Machinery
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Liability Insurance / P & I
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War Risks Insurance
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Additional-/ Special insurances
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