Buy Back covers
This buy back cover insures liabilities related to activities such as:
- Maintenance work
These kinds of operations are excluded from the standard P&I cover as they are considered to be outside the scope of the ordinary operational risks.
We cover liabilities arising out of these activities (‘specialist operations’) limited to the agreed amount under your policy. A usual limit for inland craft vessels is EUR 2,500,000.
This insurance covers specific liabilities under a contract that are not covered under the standard P&I rules. These will typically be contractual indemnities or other unbalanced assumptions of risk. Examples include:
- Loss of life, personal injury or illness.
- Loss or damage to cargo or property.
- Waiver of right to limit liability.
- Removal of wreck.
This cover can be provided for individual contracts or on an annual basis with limits up to EUR 10,000,000 for inland craft.