Marine
identify and manage uncertainties
In the dynamic world of shipping trades, there are unimaginable risks lurking around that may disrupt your business.
What Does It Cover
Marine Cargo
While you wait for your goods to reach its destination, the Insurer will cover of your voyage whether they are shipped by land, sea or air. If you are buying or selling goods overseas, select any one of the four ways for the Insurer to insure your cargo.
Builder’s Risk
Builder’s Risk insurance covers loss of, or damage to, the hull and machinery of vessels under construction. Cover is also provided for loss of, or damage to, property belonging to others and for death or personal injury caused to third parties during construction.
Marine Hull & Machinery
Marine Hull and Machinery insurance plays a vital and indispensable part in the international trade and economic progress. Through the Hull and Machinery insurance, the financial losses resulting from the perils of and/or the sea are transferred.
Pleasure Craft Insurance
Pleasure Craft Insurance protects your prized yacht from physical loss or damage and against your liabilities toward third parties.
EXCLUSIONS
There are certain conditions whereby the benefits under this plan will not be payable. You can refer to your policy contract for the precise terms, conditions and exclusions of the plan. The policy contract will be issued when your application is accepted.
IMPORTANT INFORMATION
Policies are yearly renewable, subject to the agreement of the Insurer. Premiums payable for these insurance policies are not guaranteed and may change at Policy Renewal Date at the Insurer’s full discretion.
All benefits and features mentioned herein are subject to terms and conditions of the policy. You must refer to the Policy Contract for the precise terms and conditions of this insurance plan.
Note: Buying a life and/or health insurance policy can be a long-term commitment. An early termination of the policy usually involves high costs, and the surrender value payable may be less than the total premiums paid. You may wish to seek advice from a financial adviser before making a commitment to purchase the product. In the event that you choose not to seek advice from a financial adviser, you should consider whether the product in question is suitable for you.
Policy Owners' Protection Scheme
This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the GIA/LIA or SDIC websites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).