Our insurance company provides two following Loss of Hire insurances:

Loss of Hire insurance for ship owners covers loss of income following a physical damage to the vessel, recoverable from the underlying hull & machinery cover. This enables ship owners to protect their cash flow in the event of an accident. It covers loss of income caused by following accidents:

• Physical obstruction which prevents the ship from leaving any limited area
• Salvage
• General Average events
• Grounding
• Removal from the ship of damaged cargo
• Loss of Hire insurance for time charterers covers loss of hire following a seizure of the vessel by pirates.