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Expertise

Port Blockage Facility

Discover how Marsh's port blockage facility offers standalone coverage for clients, addressing the risks and challenges faced by ports and terminals worldwide.

Ports and terminals worldwide are perpetually navigating risks and challenges. When access to a port becomes blocked, the impact can be significant on finances and time to return to full operational capability.

To address this, Marsh has created a standalone port blockage insurance facility featuring ready-made capacity of USD50 million of port blockage cover. Higher limits may be available on a case-by-case basis. The facility uses our proprietary port blockage insurance wording which can be customised to meet individual needs. It can be purchased as standalone cover or to top-up existing cover provided elsewhere.

The facility covers an accident causing a blockage of:

  • A berth or quay.
  • Any approach channel or waterway.
  • Any land access immediately adjacent to the confines of the port, terminal, or insured location.

Benefits

Faster placement

Capacity underwritten under a pre-agreed and approved Marsh arrangement to support speedy placement.

Coverage certainty

Leading underwriters are able to bind risks on behalf of the follow panel. This gives greater certainty of coverage and price at an earlier stage of the placement process.

Quicker claims settlements

Facility insurers will automatically follow the overall lead insurer’s claims settlements, as per the Lloyd’s Claim Scheme.

Customised approach

Format that can be customised to fit around existing policies, or standalone to fit around specific wants and needs.

Highly-rated Lloyd’s capacity

Backed by a panel of insurers including Lloyd’s of London. Lloyd’s financial strength is rated – A (excellent) from AM Best and – AA (very strong) from Standard & Poor’s.

Why Marsh

Marsh's global Marine, Cargo & Logistics Practice has over 650 colleagues in 35 countries, allowing us to deliver international brokerage, consulting, and claims advocacy services to clients around the world. We handle 40% of the premiums in the market for shipyards, with over 250 ports and terminal clients.

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