Ports & Terminals

The complexity and sheer volumes of this industry brings requires a robust and secure risk management program.

Great Insurance Solutions for your Ports and Terminals Business

In view of the large volumes and diverse nature of goods, Ports and Terminals are exposed to various Risks. Insurance solutions are required to cover exposures such as Liability, Property, Machinery Breakdown, Business Interruption and Errors & Omissions Risks.

The globalization of the world economy has brought about tremendous increases in exchange of goods across the world. India is no different, majority of India’s foreign trade passes through Indian ports.

The maritime sector handling approximately.
95% of trade by volume.
70% of trade by value.

Key Risk Issues facing Ports and Terminals

Terrorism Coverage

Damage to Port Equipment or Infrastructure

Unsafe Port/Berth claims

Unsafe Port/Berth claims

Personal Injuries

Political Risk

Pollution/Environmental Issues

Liability Risk

Liability Risk

Port/Berth blockage and consequential loss of income to Port and dependent companies.

Our Coverages Are Designed To Cover

Damage to Port Equipment or Infrastructure (eg. natural disasters or ship contact, loss of warehouse contents – fire and theft).

Political Risk – especially where ports have sister companies in high risk countries.

Terrorism – Ports are being considered at a major threat from Terrorist strikes.

Port/Berth blockage (wreck, storm, pollution, etc.) and consequential loss of income to Port and dependent companies. India has seen a major claim of Port Blockage in recent history

Pollution/Environmental Issues - financial consequences of environmental obligations due to accidental releases or pollution incidents, covering costs related to clean up, restoration, and potential legal liabilities.

Errors & Omissions (incorrect draft information, incorrect shipment destination, incorrect handling/storage methods or instructions, document errors).

Liability Risk - Financial burden of legal claims, medical expenses, and compensation for affected parties, and reputational damage.

Personal Injuries (stevedores or ships’ crew), 3rd parties e.g. truck drivers, cargo owners, surveyors and officials, passengers, etc.

Cyber Incidents – Ports and Terminals are severely prone to cyber attacks. As same can put operations to a standstill.

Unsafe Port/Berth claims (grounded, collided ships)

Insurance policies commonly applicable to Ports and Terminals are as follows:

1

Marine
Insurance

2

Property
Insurance

3

Business Interruption Insurance

4

General Liability Insurance

5

Workers' Compensation Insurance

6

Cyber Liability
Insurance

7

Pollution Liability Insurance

8

Terminal Operators Liability Insurance

5

Machinery Breakdown Insurance

6

Directors and Officers (D&O) Liability Insurance

7

Professional Indemnity Insurance

8

Employee Benefits Insurance

Why Choose First Policy

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Clients

Have worked with some of the largest Ports and Terminals.

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Technology

State of the art IT system.

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Experienced Team

Relationship managers, Technical Experts and Claims team.

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Professional Advisory

Risk assessment and management, claims management, renewals management.

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Global Service capability

Present in 140 countries worldwide.

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Innovation

Industry Leaders in bringing innovative solutions.

Our Other Services

Claims

Reinsurance

Marine Insurance

Risk Management

Property Insurance

Liability & Credit Insurance

Employee
Benefits

Engineering & Misc. Insurance

Insights