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.