Corporate Marine
Marine insurance is complex, and insurers are required to have an in-depth understanding of local and international conditions. The Mutual & Federal Marine division includes a specialised team that provides the necessary information and support needed by a wide range of clients. Highly trained claims handlers back this service with an efficient claims system.
Which Mutual & Federal Marine policy best suits your needs?
Commercial hull insurance provides cover for vessels used for commercial purposes. This includes vessels used in the deep sea fishing industry or, for instance, vessels being used for charter. Mutual & Federal provides a wide variety of cover from all risk through to total loss cover, including items such as machinery breakdown, special equipment and collision liability.
Pleasure craft insurance
Whatever the purpose and size, there is a Mutual & Federal policy providing cover for all types of private pleasure craft. Cover can be arranged for small sailing dinghies through to ocean going yachts and catamarans, as well as power crafts, such as wet bikes, rubber ducks and ski boats.
Cover can be arranged for the transit leg of a journey to water and for use on inland water, or for both inland and coastal waters within the Republic of South Africa. A nominal additional premium can extend the policy to provided cover outside SA. Cover for special equipment, like fish finders, skiing equipment, etc., can also be arranged.
Comprehensive cover including medical expenses arising from accidents, as well as cover in the event of hitting a submerged object and insurance of trailers, are just some of the other options available.
Claims are handled in a thorough and professional manner by marine experts, who can also provide advice on technical as well as risk control matters.
Insurance certificates required for Letter of Credit purposes on exports can be issued within 24 hours.
In the event of a loss occurring outside South Africa, Mutual & Federal can tap into a global claims network to settle claims quickly. This ability is particularly important for goods being exported, as it ensures that the company maintains close contact with the claims settling agent and can react effectively to any problems.
To discuss marine insurance requirements, contact your insurance advisor or call Mutual & Federal at one of the following branches:
Goods transported by sea, road, rail, air-freight or by post
Imports, exports and inland transit shipments, tailored to suite the unique characteristics of the commodities being transported
Inland transit, including goods owned by the insured utilising outside transporters and/or the use of own vehicles, within the Republic of South Africa
Complex types of risk, such as Stockthroughput or Advanced Loss of Profits policy.
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General cargo, which is normally shipped in containers, is covered by standard comprehensive policies
Specialised cargoes such as perishables, commodities, and bulk cargo are catered for with specific cover, as required.
Local transit within the boundaries of the country not associated with an import or export, which are generally conveyed by independent carriers.
This coverage caters for loss of gross profit and an increased cost of working following the loss of, or damage to, imported critical equipment covered by a marine cargo policy.
Cover is arranged for the actual shipping container in which goods covered by a marine cargo policy are shipped.
This specialised cover embraces the cargo risk, inland transit risk, and risks associated with the storage of stock. Goods are usually insured from supplier or manufacturer until placed in the hands of the end customer.