We are an acknowledged market leader in marine delay start-up and pioneered the broader scope of coverage now available for this risk.

Marine delay start-up relates to the consequential loss suffered by a business in the event that an ocean or inland marine transit risk delays the start of a specified project.

Marine delay start-up is purchased with cargo, and a loss is triggered by a physical loss or damage event involving the cargo or the carrying conveyance.

Option

Broader coverage is sometimes available, using a trade disruption insurance policy where, in addition to the above, the policy indemnifies the Assured following disruption to the scheduled delivery along the prescribed delivery route. Causes of loss can include political risks, rail closure, earthquakes etc. stand-alone coverage is also available.

Considerations include:

• Key project components (such as turbines and generators) and their respective lead times
• Survey requirements, in respect of loading, packing, stowage and delivery
• Milestone schedules and slippage time
• Contingency planning

Proposal form

To download a proposal form, click here.