Contractual Extension Liabilities
This additional cover is available for certain risks under a contract or indemnity that has been approved by Aurora.
Additional Contractual Liabilities
Liabilities under certain contracts and indemnities
Examples of contractual liability cover include cases where the insured has assumed liabilities under a contract, which go beyond those falling within the ambit of standard P&I cover. By way of illustration, standard P&I cover indemnifies an owner in respect of wreck removal following a statutory order by a competent authority. However, certain contracts may require an owner to remove the wreck if it is interfering with charterers’ operations. Hence, the owner would need to take out Contractual Extension Liabilities cover for such a scenario.
Up to USD 500 Million
We can provide a limit of liability up to USD 500 million for P&I cover.
The deductible and policy terms are structured to suit the charterer’s individual needs.
- Freight, deadfreight, hire and demurrage
- Detention and delay to the insured ship
- Loss and damage to the insured ship
- General average
- Claims or disputes under contracts of carriage
- Disputes relating to the supply of fuel or other materials to the insured ship
- Claims for negligent repairs carried out to the insured ship
- Improper loading or discharging by stevedores
- Amounts due from or to underwriters
- Salvage and towage disputes
- Claims by or against passengers
- Claims by or against members of the crew, stowaways or other persons on board the insured ship
- Claims relating to the sale or purchase of the insured ship
- Claims by or against port authorities, customs authorities or terminal owners
Our claims team has significant experience of handling claims and casualties with a particular focus on small ships. Given the wide variety of tonnage on risk, we have dealt with claims involving fires, wreck removal, groundings, personal injury, pollution, collisions with other ships and also shore properties. Depending on the facts of the case a different approach may be required and we aim to be flexible and proactive in trying to resolve matters early on whilst protecting the interests of the insured and Aurora at all times.
Aurora has a global network of P&I correspondents that can assist in dealing with any claim or casualty. We have access to surveyors and maritime experts and professionals, who can be called upon when required depending on the nature of the matter. For example, it may be necessary to instruct a specialist expert to deal with the alleged contamination of a particular cargo on board the insured ship. With our comprehensive network of experts and suppliers we are able to find someone who is the most suitable for the task at hand. In a casualty situation, time is often of the essence. By having the right people with the necessary skills involved early on, we can proactively manage the case thereby minimising the claims exposure for the insured and underwriters.