Protect your company against legal and financial claims with Charterers Liability insurance. Comprehensive coverage against damage to the vessel, cargo, third parties, and environmental risks in charter contracts in Mexico.
Insurance / Companies / Maritime
Charterers Liability Insurance
In the maritime sector, charterers face significant risks arising from charter contracts. A claim for damage to the vessel, cargo, or third parties may generate multimillion-dollar losses and affect operational continuity.
Charterers Liability insurance provides comprehensive protection against these risks, offering legal and financial security in an increasingly demanding international trade environment and under national regulation.
What is Charterers Liability Insurance?
Charterers Liability Insurance covers the legal liability of the charterer toward the shipowner, cargo owners, authorities, and third parties during the term of the charter contract, whether voyage charter, time charter, or bareboat charter.
Main Coverages Included
- Damage to the chartered vessel: repairs, loss of use, or shipowner claims.
- Damage to cargo: loss, damage, or contamination of transported goods.
- Environmental pollution: liability for hydrocarbon spills or other hazardous substances.
- Third-party damage: individuals, port facilities, docks, and equipment.
- Legal and defense costs: support in litigation, arbitration, and international claims.
- General average contribution: participation of the charterer in shared salvage costs.
Does this insurance cover incidents in ports?
Yes, it covers damage to vessels, cargo, port facilities, and the environment during operations carried out in ports. Although it is not mandatory by law, it is highly recommended as it protects against third-party claims, including sudden pollution.
Benefits of Purchasing Charterers Liability with NRGI Broker
- Access to international P&I Clubs and specialized insurers.
- Advisory in charter contracts and maritime risks.
- Tailored solutions designed for shipowners,logisticsoperators, and traders.
- Claims support under international maritime regulations.
