Marine Insurance
The following are the classes of insurance Beema provides: Marine Hull Insurance: We offer following classes of insurance for all types of vessels i.e. Cargo Ships, Oil Tankers, LNG Carriers, Tugs, Barges, Supply Hull & Machinery – Marine Perils Protection and Indemnity Cover War and Strikes etc. Risks Loss of Hire / Earnings Builders Risks Charterers Liability Ship repairers Legal Liability Marina Operators Liability Port Operators Liability Stevedores Legal Liability Mortgagees Interest Marine Cargo Insurance: Movement of cargo around the World by Ship, Air, Land conveyance etc. Is a continuous business operating across all time zones. It covers the risks involved in the transportation of cargoes such as carriage of sensitive cargoes, valuable cargoes, plant and machinery, bulk and project cargoes are diverse. These risks include damage by fire, theft, breakage, drowning, accident and other perils. For Importers, Exporters, Manufacturers, Large Project cargos (Principals/Contractors) on warehouse to warehouse basis. Marine Cargo War and Strikes insurance: Provides cover against accidental physical loss and/or damage to the cargo during transit by sea, air, land or parcel post caused by war and strikes
Beema issues two types of cargo insurance policies: Single Cargo Policy: This policy is issued to individuals or companies to cover the transit of cargo for a single consignment on terms and conditions to be agreed prior to shipment. Open Cargo Policy:This is a long term contract (generally signed for a period of 12 months), which is specifically designed for companies with large volume of business. It covers automatically all their transits falling within the scope of the policy's terms and conditions.