Port operations have high liability exposure, i.e., damage caused to third-parties, including damage to vessels and cargo thereof. Also, own or leased equipment is exposed to damage from natural perils or operating errors.
TYPES OF INSURANCE
- Directors’ and Officers’ and Managers’ Liability (D&O): Protects Officers against third-party claims arising from management actions, thereby protecting their property;
- Professional Liability (E&O): Protects the Company against third-party claims arising from losses caused by defective supplying of professional services;
- General Liability – Operations / Employer’s: Protects the Company against claims arising from losses to third-parties, employees or contractors, as a result of damage caused by its operations;
- Port Operators Liability: Protects the Port Operator against claims arising from losses caused to third-parties, vessels and cargo thereof, as a result of damages caused by its port operations;
- Environmental Liability: Protects the Company against claims arising from losses to third parties caused by environmental damage;
- Sureties: This type of insurance is placed on demand of a contracting party in connection with supply, service provision and project performance agreements (Bid and Performance Bonds) or lawsuits (Judicial Guarantees and Labor Lawsuit Appeal Bonds);
- Property: Covers damage to own or leased property, arising from operating errors, sabotage and natural forces, including consequential damage (business interruption).