Ingosstrakh experts have developed specials Rules (which have been duly licensed) based on Institute clauses for Builders’ risks used all around the world for the purpose of more precise regulation of the relations between the Insurance Company and the Insured.
Insurance object:
the Insured’s property interests related to the vessel’s construction. Construction is understood as the process of vessel construction according to a certain project in accordance with the class requirements.
Insurance risks:
damage and total loss (actual or constructive) caused by any risks threatening the vessel during its construction and assembly, vessel’s launching and sea trials.
environmental pollution;
faulty design;
general average and salvage;
collision liability;
expenses for preventing, minimizing and ascertaining the loss amount.
Cost of insurance:
to be quoted individually for each object depending on the technical characteristics of the vessel and the constructing shipyard;
also depends on such factors as the plant’s experience in construction of similar objects and statistics; type and size of the object, its contract value; construction period.
Entering into contract:
please fill in the application form;
send us the completed application form by fax or e-mail;
based on the information provided by you, our specialists will quote rate and insurance premium, deductibles, payment schedule and other terms that will then be negotiated with you.
