Published: 14-Feb- 2012 | Product Category: Other
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There are a number of competing interests in the complicated and rapidly developing field of Maritime Security. New start-ups are looking for affordability while established operators are becoming increasingly interested in setting insurance standards that underpin the credibility of the Private Maritime Security Company (PMSC) industry. The International Maritime Organisation (IMO) is seeking levels of insurance that shipowners can depend upon and the P&I clubs are advising their members both on what they should agree contractually and the limits of cover they should seek.
Marsh, in support of SAMI and with the help of a number of stakeholders, has developed a new insurance facility for PMSCs that will provide comprehensive bespoke coverage. The facility will help: