Lockton Edge’s team of brokers has a unique breadth of experience gained from having worked in P&I Clubs in both underwriting and claims, for shipowners in operations and at sea in addition to many years of broking throughout the world.
This blend of backgrounds has enabled Lockton Edge to develop unparalleled sectorial knowledge and in consultation with our clients, we work to create P&I programmes specifically to suit their respective trade or industry sector, providing the broadest scope of cover at a commercially competitive price.
We use our thorough understanding of the standard platform in conjunction with our knowledge of our client’s operations to recognise the exposures that require bespoke covers.
Our global marine network of offices, which now includes the world’s largest P&I broking team of our Global Marine partner Lockton PL Ferrari, enables our P&I specialists to readily connect with our clients on a day to day basis to assist in meeting their P&I needs.
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: