Our claims teams handle your claims from first notification until final resolution and settlement giving all claims an individually tailored service regardless of the complexity or magnitude of the potential loss.
During the past five years, our teams of claims experts have handled more than 3,500 claims amounting to more than USD 750 million, in our Hull & Machinery and PD practise alone.
With our very considerable global portfolio of insurance risks, we have more experience than any individual client could ever have. We also have a database of losses and collection precedence that assists us in recovering claims that are subject to interpretation.
We know intimately the performance, specialities and any obstacles that may exist with each of the more than 100 individual insurers we deal with in all of the 22 countries in which we place risks. This knowledge assists us in moving a claim forward, but also in selecting the most suited claims leader for you at the outset of the contract. We work with a global network of surveyors, lawyers, adjusters and other professional advisers to ensure that your claim collection truly reflects full and fair indemnity.
We provide valuable feedback to our brokers on the selection also on following markets that in some cases may deliver very competitive rates from a strong capital base, but where claims servicing performance may be lacking in standards.
Our team of 10 dedicated and experienced claims handlers includes master mariners, lawyers, engineers and naval officers, and provides a 24 hours service 7 days a week. Throughout our organisation we have additional resources with seafaring and shipping experience that can offer valuable support to this team depending on location and nature of loss, and the type of tonnage involved.
In the early stages of a claims situation, we will be your sparring partner. As the problem evolves, we will stand by your side and provide you with the ability to discuss freely, and without consequences, how various operational scenarios may affect the insurance recovery. When the claim enters the recovery phase, we will work closely with you to ensure that your loss is collected as promptly and efficiently as possible.
We understand the pressure that an accident can put upon the resources of any organisation and work swiftly to gather information and prepare interim payments to ease cash flow whilst handling the details and associated negotiations to ensure a successful collection of your claim. Where possible and required we will work with the leading underwriter to arrange funding on behalf of following markets, and also to provide guarantees.
We recognize that our existence and success relies on the trust of our customers and will in all our actions and decisions conduct our affairs with the highest degree of integrity.
Hull & machinery insurance is one of the most important shipowners’ insurances. It covers the assured’s economic interest in the ship and its equipment’s capital value by covering total losses and the cost of damage repairs. Hull insurance also contains an element of liability insurance, i.e. the owner’s liability for collision or striking. In addition, hull insurance also covers costs of measures to avert or minimise the loss, including salvage awards and general average.
Hull interest insurance covers the assured’s economic interest in the capital value of the ship. The hull interest insurance also covers excess collision liability.
The freight interest insurance covers the assured’s economic interest in the long term freight interests of the ship.
Loss of Hire insurance covers daily loss of income following a physical damage to the vessel. This loss be caused by events such as damage to the vessel recoverable under the underlying hull & machinery cover, stranding of the vessel, physical obstruction preventing the vessel from leaving port, salvage or removal of damaged cargo and events giving rise to an allowance in General Average. The cover can also be extended to respond to loss of hire as a result of war or war like circumstances, and for non-physical blockage due to intervention by a state power.
War risk insurance covers total loss and damages, collision liability, hull/freight interest, loss of hire, owner’s liability (P&I) including occupational injuries, as a consequence of war like hostilities, civil unrest, sabotage, terrorism, arrest, seizure etc.
Available as may be required.
The Edge Group offer insurance according to all internationally recognised standard conditions and will also cover at conditions tailor made to meet any requirement the customer may have. The basics of our business philosophy is that the best results are achieved in close co-operation between the client and her broker, always in compliance with the Edge Group endline: