Services

All seagoing vessels require essential insurance coverage. One vital area of cover is Hull and Machinery insurance. With access to several markets, EMIRA is able to assist its clients by providing insurance with tailor-made coverage against the physical loss or damage of the vessel’s hull and machinery arising out of incidents such as maritime casualties, collisions and engine failure.

Standard H&M and P&I insurances exclude damage and loss arising out of war, terrorism and other forms of malicious damage necessitating specialized war risk insurance cover . Due to, often volatile developments, your vessel may easily find itself facing such risks. Using its network of providers in the market EMIRA regularly provides its clients with access to War Risk Insurance.

Charterers, in their capacity, may equally face liabilities and risks that are similar to those of a shipowner. As such, a charterer needs to ensure that cover is in place for any liabilities. EMIRA may assist a Charterer to obtain such cover and limit their liability exposure.

Contentious issues in the maritime world form part and parcel of the shipping industry. Legal disputes can be extremely costly and FD&D cover greatly assists in alleviating the legal costs involved in disputes arising from the ownership, operation and chartering of a vessel or a fleet. EMIRA is well-positioned to assist you with FD&D cover.

Drug Seizure Insurance offers protection for risks due to delays arising out of drugs or contraband being discovered on board the vessel. It is an independent, ad-hoc insurance that can be added to increase the scope of your insurance protection. This niche insurance is available through EMIRA who can advise on and assist with placement.

Risks and Liabilities arising out of crew injuries, loss of life, pollution, cargo damage and cargo loss are only some of the incidents covered under P&I Insurance. P&I Insurance is by nature modeled around the operation of a vessel depending on the intricacies of the industry. EMIRA’s access to various P&I markets allows for appropriate insurance coverage to be provided.

Most insurance products have emerged out of necessity, filling in gaps in cover of existing insurance products. Kidnap and Ransom Insurance most certainly is one such product. As certain parts of the world have become increasingly dangerous to crew members, the industry created Kidnap and Ransom Insurance to assist in the event of the crew being kidnapped. EMIRA places K&R insurance regularly with Loss of Hire extension if needed.

Cargo damage and loss is common and costly. Ensuring that you are adequately indemnified is vital. Whether you are a shipper, a cargo owner or a receiver protecting the cargo against risks at sea, land or air, it is crucial to ensure proper protection. In cases of combined transportation, the issue of maintaining cover through all modes of transport until passing of title is imperative. At EMIRA various cargo insurance products are offered depending on the type of cargo, nature of the trade, method of transportation and other related risks.

EMIRA is not only about business but is also about pleasure. Within our scope of services EMIRA provides insurance coverage for yachts and other pleasure crafts covering hull & machinery, fixtures and fittings, third party liabilities, personal effects, personal accident and loss of hire.

Considering the high value of ships and the great risks that vessels are exposed to, ship financers remain prudent when seeking adequate protection of their investment. Although other maritime insurances such as H&M and P&I do cover vessels against loss, Mortgagees Interest Insurance ensures that a vessel is insured against loss in circumstances where a breach of cover in H&M or P&I insurance occurs resulting in lack of cover. The protection afforded to the ship financers through the MII is normal practice in Ship Finance transactions and EMIRA regularly and readily assists in clients in obtaining such cover.