MECO Marine provides a range of insurance products to clients engaged in maritime trade and transport.
Contracts for the purchase and sale of commodities are becoming increasingly complex, often including onerous liability terms. When buying or selling on FOB or CIF/CFR terms any breach of certain contractual obligations may lead to multi-million-dollar claims.
We are able to provide liability cover for cargo shippers and receivers as well as certain additional covers for assureds of The Charterers Club. Such additional insurance products range from cover for liabilities in respect of terminals to cover for freight at risk and loss of bunkers.
Great Lakes Insurance SE
The underlying security in respect of MECO Marine policies is Great Lakes Insurance SE, a wholly owned subsidiary of Munich Re. Founded in 1880 Munich Re is now the world’s largest reinsurer employing more than 40,000 people across more than 50 countries.
GLISE enjoys the same security ratings, which are AA- by Standard & Poor’s and A+ by AM Best respectively.
Over 140 years’ experience in risk management
Over 40,000 employees worldwide
Euro 67 billion in gross premium income in 2022
Produced a Euro 3.5 billion operating result in 2022
Market capitalisation of Euro 42.6 billion in 2022
Through MECO Marine we can offer a variety of insurance products that complement the cover provided by The Charterers Club. These include Shipowners Liability cover and also insurance for freight at risk and lost bunkers.
MECO Marine can provide a specialist liability cover for cargo shippers and receivers, who may be exposed to certain risks under their sales contracts. Liabilities under such contracts can be significant and we are able to provide cover for certain risks up to a limit of up to USD500 million.