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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.

Speed

Facility offers faster placement of coverage

Certainty

Provides peace of mind during the coverage procurement process

Customization

Tailored to fit existing policies or specific business needs

Marsh's port blockage facility has been designed to provide our clients with standalone port blockage coverage. 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 capabilities.

To address this, Marsh has created a new standalone port blockage facility featuring ready-made capacity of US$50M of port blockage cover. Higher limits may be available on a case-by-case basis.

The facility uses our proprietary port blockage wording which can be customized to meet individual needs. It can be purchased as standalone cover or to top us existing cover provided elsewhere.

  • The facility covers an accident causing a blockage of:
    • A berth or quay owned or leased by the assured.
    • 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.

Customized approach – Format that can be customized to fit around existing policies, or standalone to meet specific business 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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