British Marine Insurance was codified into UK law by the English Marine Insurance Act of 1906. This law attempted to interpret what insurers were and were not liable to pay out for in event of damage to goods. It was stated that companies were not liable for ordinary wear and tear caused by time at sea including leaks and damage by vermin. Instead providers are liable for delays and damaged caused by storms, and natural perils.
Before choosing a marine insurance package it is important that you familiarise yourself with the different types of policies that are available. Below we have listed some of the more common types of commercial marine insurance policies, with a brief explanation of their function. Click on the link for a list of companies that offer this type of marine insurance policy.
Protection and Indemnity (P&I) Marine Insurance Cover
P&I Marine Insurance cover is subject to the English Marine Insurance Act (1906). It covers a wide range of risks at sea including those caused by war, environmental factors, oil spills and pollution.
Click here for a list of providers and information about them.