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Marine insurance: maritime and ports
Marine insurance is one of the most technical lines in the market: vessels, cargo, terminals and third-party liabilities, with its own international rules and practices.
Activities we advise on
Oller Brokers has been an insurance broker since 1952. It advises businesses in the maritime and port sectors on the design, placement and review of their insurance programmes, with access to more than 70 insurers.
We place all marine insurance lines with specialist insurers and the Lloyd's market through coverholders. We review the whole programme or a specific policy to improve cover and terms.
- Shipping companies and shipownersCargo vessels, passenger vessels, towage, auxiliary services, etc.
- Ports, terminals and shipyardsContainer and bulk terminals, stevedoring companies, shipping agents, shipyards, ship repair, etc.
- Fishing and aquacultureFishing fleets, fishermen's guilds, fish farms, fish processing, etc.
- Leisure boating and marinasMarinas, boatyards, charter, sailing schools, etc.
Risks and cover
Choose a risk to see which insurance covers it in the programme of a company in the sector.
Risk
Damage to the vessel
Hull & machinery: grounding, collision, fire or breakdown.
How it is covered
Risk
Shipowner's liability
Injury to crew, damage to third parties, pollution and wreck removal.
How it is covered
Risk
Goods
Damage to or loss of cargo during sea transport and handling.
How it is covered
Risk
Port operations
Damage to vessels, containers and customers' goods during stevedoring and storage.
How it is covered
Risk
Shipbuilding and ship repair
Damage to vessels under construction or in the shipyard's custody.
How it is covered
Insurance they typically need
Every company is different. These are the policies that carry most weight in the programme of a company in the sector.
- Hull & machineryDamage to the vessel itself from grounding, collision, fire or breakdown.
- P&I (protection and indemnity)Shipowner's liabilities towards crew, cargo and third parties.
- Goods in transitDamage to or loss of goods during transport.
- Port and terminal liabilityDamage to vessels, containers and customers' goods.
- Shipbuilders' risksDamage to vessels under construction or repair.
- Pleasure craftDamage to the vessel and liability arising from its use.
- All risks property damageBuildings, machinery and stock against any damage not excluded.
- Environmental liabilityPrevention and remediation of environmental damage.
Two ways to get started
Full programme review
We analyse all your policies together: duplicated cover, gaps, sums insured, deductibles and exclusions. We then present alternatives from different insurers.
Review of a specific policy
A renewal with a premium increase, a contract requiring new cover or a poorly resolved claim. We examine that policy and look for better terms.
Large risk programmes
A medium-sized or large company does not need a stand-alone policy, but someone to design, place and defend a complete programme. That is what we have been doing since 1952. See more
- Risk analysisWe study the business's activities, facilities, contracts and claims history. Working with specialist firms, we also offer a risk management service.
- Properly valued sums insuredWe review insured values and business interruption so that a claim payment is not reduced due to underinsurance.
- Access to the whole marketMore than 70 Spanish and international insurers, underwriting agencies and Lloyd's through coverholders.
- Co-insurance and excess layersWhen a risk exceeds one insurer's capacity, we spread it through co-insurance and structure it in as many excess layers as needed.
- International programmesFor groups with subsidiaries outside Spain, we coordinate international programmes that comply with each country's regulations.
- In-house claims teamSupports the business from notification through to settlement and defends its position with the insurer.
Frequently asked questions
What is P&I?
Protection and indemnity insurance covers the shipowner's liabilities towards third parties: crew, cargo, collision, pollution or wreck removal. It is normally placed with P&I clubs or specialist insurers.
What is the difference between hull and P&I?
Hull cover protects against damage to the vessel itself. P&I covers what the shipowner owes to third parties.
Do you insure fishing and aquaculture?
Yes. Fishing vessels, aquaculture facilities and the liability arising from the activity.
Other sectors
Can't see your sector? We work with businesses in every field.
Let's talk about your business
We review your insurance programme, or the policy you're concerned about, with no obligation.