Why Vessel Liability Coverage Is a Key Part to Being Seaworthy
Whether it’s fuel oil on board, cargoes that pollute or even pollutants that are washed off the deck, the marine vessel owner is liable for anything that spills into the ocean, and the associated fines and cleanup costs can get very expensive.
This is why marine vessels need pollution coverage as part of its overall coverage needs. A single incident can cause hull damage, wreck removal, and crew injuries or deaths. One carrier offering multiple coverages can improve efficiency and allows for more competitive quotes with the most favorable terms possible. Most importantly, it’s a much easier and more streamlined experience for both the broker and insured.
Read more from Noah Kingston, Divisional Vice President of our Ocean Marine Team in PropertyCasualty360.