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Marine

Your local specialist in Cargo, P&I and Liabilities

 

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Marine

Great Eastern Indonesia has been providing marine risks solutions for more than 20 years from our network of offices strategically located in cities throughout the country. Drawing on the global expertise and experience of the Great Eastern Group, we help our marine clients in Indonesia minimise and mitigate highly complex and variable marine risks, including:.

Marine Cargo

Insurance cover for goods in transit by sea, land and air; whether under a single shipment or declarations under a binding contract called a Marine Open Cover (MOC) or Marine Open Policy (MOP). This eliminates concerns for cargo owners while their cargo is being transported domestically within Indonesia as well as internationally around the world.

For Intermediaries 


Shipbuilders Builder’s Risk:

Insurance cover for building marine vessels and/or conversion risks.  This is the marine equivalent of a Construction All Risks policy, where the shipyard is building your vessel.  The ship is exposed to all the natural perils, most notably fire and explosion either at the vessel or fire from other projects within the shipyard.  Builder’s Risk covers the financial loss due to damage to the construction project right up until final testing, commissioning, sea trials, and final handover to the new owner.

Marine Liabilities:

Charterers’ Liability: protects Charterers (time or voyage) against third-party liability arising out of operation of their chartered vessels. The contract and liabilities arising between shipowners and charterers can be insured by a Charterers’ Liability Insurance. This deals with the legal responsibilities of the Charterer, which then may lead to damage to hull, cargo and other third-party liabilities.

Marine Professional Indemnity: indemnifies marine professionals against claims arising from legal liability and errors and omissions in the performance of professional services.  This cover ensures specific protection of marine-related professionals, such as marine surveying, ship management and others to conduct and provide their expertise to their customers to the fullest professional ability.

Ship Repairers’ Liability: covers liabilities to the shipyard should it be found to be legally liable for damage while a vessel is under the care, custody and control of the shipyard, its machinery and third-party property damage due to negligence of the shipyard.

Transport Operators’ Liability: cover is specifically designed for Freight Forwarders, Multimode Transport Operators, Non Vessel Operating Carrier, Road Hauliers, Warehousing Operators, and others to protect against the financial consequences of their legal liability for the care, custody and control of third-party property.

Ports & Terminal Liability: protects against liability claims from third parties for the Port Authority, Terminal Operators, Container Freight Station and Stevedores against liability for cargo handling.  It is also possible to have extensions to cover property and freight handling equipment.

Protection & Indemnity (P&I)

P&I from Great Eastern is a collaboration between British Marine – the two P&I providers within the Group Great Eastern.

Great Eastern was founded in 1886 principally to provide insurance and solutions for risks comprising of, but not limited to, transportation, storage, ships and land-based risks.  British Marine was founded as a mutual in 1876 and is the largest and longest established P&I insurer outside the international group P&I Clubs.  The collaboration draws on the strengths of both operations to create a single, enhanced and comprehensive facility for the Asia-Pacific region.

P&I from Great Eastern specialises in the underwriting of insurance for owners of small to medium-sized merchant ships (customarily up to 10,000 Gross Tons), specialist craft and fishing vessels operating in the region.  Being served by an independent fixed P&I Insurance company, clients can feel secure in the knowledge that the P&I premium they pay will not be subject to unbudgeted additional premium charges and that claims and underwriting are driven by the P&I insurance provider and not by reinsurers.

We are able to offer fixed cost P&I insurance backed by Standard & Poors ‘A+’ rated security, while maintaining the tradition of mutual P&I insurance in providing a high level of service to all our clients.

 

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Great Eastern General Insurance Indonesia is registered with & supervised by Financial Services Authority (OJK)
Great Eastern General Insurance Indonesia is registered with & supervised by Financial Services Authority (OJK)