Recognising that some members face increased exposure beyond mutual limits, the club has developed extended cover key exposures on a fixed premium.
What is tailored delay cover?
Tailored delay offers members the opportunity to extend cover beyond the mutual limits for key exposures up to 180 days.
What risks can I protect myself from?
Delays arising from
- Discovery of contraband
- Discovery of stowaways
- Action of Authorities
- Illness, injury or death of crew
- Desertion of crew
Who buys the cover?
Members of the club with an increased exposure to these risks due to:
- Nature of the trade
- Geographical "hot spots"
- Contracting terms
Members operating reefers in the LATAM region buy extended limits for contraband and actions of authorities.
Members with regular trade on the African continent buy extended cover for delay arising from discovery of stowaways.
How does it work?
Individual quote for the risks required in excess of the normal MDI limits. The cover is offered on a fixed premium basis and therefore is not subject to the general increase or final or supplementary calls.
How do you calculate premium?
Premium is calculated based on the
(A) Risks being covered
(B) Fleet trade and profile
(C) Spread of risk
And is expressed as a percentage of the DES.
Is it reinsured?
Yes- Security is 100% Lloyds ‘A’ or above rated security.
How do I get a quote?
Fill in the form here and one of our underwriters will get in touch