Marine Risks Insurance

 

The experience and knowledge acquired by staff of AZINCO in placing and support of H&M and P&I insurances for one the first Clients - Azov Shipping Company with the fleet of more than 150 vessels with different type and dimensions, including ocean bulkers during the period 1997-2001, allowed him to gain the confidence of not only Ukrainian shipowners (both state and private), but from Russia, Baltic States, Turkey, Spain and UAE.

PJSC “AZINCO” is ready to accept the following H&M risks on the base of the ITC 95 rules:

  • Loss or damage of the vessel, General Average, Salvage, Sue and Labour, including Collision Liability
  • Loss or damage of the vessel, General Average, Salvage, Sue and Labour
  • Loss of the vessel, General Average, Salvage, Sue and Labour Loss of the vessel, Salvage, Sue and Labour

The paid amounts of the insurance recoveries mentioned below serve the demonstrative evidence of financial facilities, reliable reputation, credibility, the existing experience and qualifications of  AZINCO (ex Azov Insurance Company):

1999

Dry cargo

Total Loss

USD 950 000,00

2001

Dry cargo

Constructive Total Loss

USD 500 000,00

2002

Dry cargo

General Average

USD 200 509,00

2003

Dry cargo

Damage of twindeck

USD 451 620,00

2006

Container carrier

Collision

EUR 634 245,00

2008

Dry cargo

Total Loss

USD 800 000,00

2011

Dry cargo

Collision

USD 368 896,00

2012

Yacht

Fire

USD 301 640,00

2016

Bulk carrier

Damage of propeller

USD 236 614,00

2016

Dry cargo

Salvage

USD   89 500,00

2016

Dry cargo

Main engine breakdown

USD 230 000,00

2017

Passenger

Collision

EUR 220 000,00

2019

Dry cargo

Damage of diesel engine

EUR   23 358,00

2019

Dry cargo

Damage of the fore mast

EUR   41 605,00

From 01 December 2013 this Contract automatically covers the H&M with limit up to EUR 3 950 000,00 with a possibility to increase this limit up to EUR 7 700 000,00 and applies to insured and reinsured H&M and Cargo (carried by all types of transport) Risks based on international rules Institute Hull Clauses with worldwide trading.

 
The portfolio has been reinsured with Reinsurance Companies having the high level of security:
 
Partner Reinsurance Europe SE (rating S&P A+)
SCOR Global P&C S.E. Paris France (rating S&P AA-)
 
 
IC AZINCO Contact details:
 
Tel.: + 38 (0629) 41-30-25, 52-70-04,                   
Fax: + 38 (0629) 52-70-09
Direct marine department: maritime@aic.com.ua 
 
Dmitriy Chigarev 
e-mail: maritime@aic.com.ua 
mobile: +38 (067) 625 83 25
 
Dmitriy Filatov
e-mail: assist@aic.com.ua 
mobile: +38 (067) 739 49 42