Ship Construction and Conversion
We specialise in ship construction and conversion in the Nordic and Baltic regions to help our clients improve their risk management.
Who we cover
We provide shipbuilding and conversion insurance for shipbuilding yards, their contractors and subcontractors. In some cases we may insure the buyers in respect of owner supplied equipment.
We are also able to provide yard liability and damage to repair work insurances for the shipyards.
Delay in delivery may be covered for the shipbuilder in respect of any penalties or liquidated damages for which they may be liable. Alternatively the buyer may wish to be insured for its loss of charter or loss of revenue or profit in the event of Delay in Delivery.
What we cover
The scope of cover that we offer will depend on the size and record of the yard in question, but typically we offer coverage in accordance with the Norwegian, Danish and Swedish insurance plans.
As with all risks we underwrite, we wish to know our client and be able to add value to the insurance equation. This necessitates regular visits during crucial periods so we focus on shipbuilding insurance for clients whose focus is yards within the Nordic / Baltic regions.
We work closely with our shipyard clients and where appropriate and necessary we will work with them to focus on loss prevention and risk engineering in a structured way, sometimes involving the buyer who equally shares an interest in the successful completion of the construction on a timely basis.
We have, through our risk engineering unit, a high calibre source of knowledge and experience globally with JH 143 and similar shipyard and project specific surveys.
We have significant knowledge regarding international conventions for shipbuilding and conversions which can assist buyers and owners from plan approval stage to delivery / operation of vessels.
We have detailed knowledge of international shipyards and together with our underwriters we can tailor solutions for your needs.