Marine Hull & Cargo Insurance

Protection For Your Trade

Designed to safeguard your vessels, your goods, and your trade interests at sea

Marine Hull & Cargo Insurance

For businesses that move goods across borders or operate vessels on the water, the risks associated with maritime activity are as constant as the tides. From rough weather and collision damage to theft, piracy, and total cargo loss, the financial consequences of incidents at sea can be significant.

Marine Insurance is a specialist product designed specifically to address the unique and complex risks of maritime trade and vessel operation.

Marine Hull Insurance covers physical damage to the vessel itself — its hull, machinery, and onboard equipment against the perils of the sea and other covered events. Marine Cargo Insurance covers the goods being transported, whether by sea, air, road, or rail, against loss or damage from the point of origin to the final destination. Together, they provide comprehensive protection for every aspect of your maritime trade interests.

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Whether you’re moving goods across borders or operating vessels on the water — tell us about your trade interests and we’ll arrange the most comprehensive and competitive marine cover available in the market.

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We work closely with a broad network of reputable insurers across the UAE, giving our clients access to competitive pricing and comprehensive protection tailored to their unique requirements.

FAQ

What does Marine Hull & Cargo Insurance cover?

Marine Hull Insurance covers physical damage to your vessel, including its hull, machinery, and onboard equipment, against the perils of the sea such as collision, grounding, fire, storm, and weather-related damage. Marine Cargo Insurance covers your goods and commodities in transit against loss or damage from the point of origin to the final destination, whether transported by sea, air, road, or rail. Together, they provide comprehensive protection for both your vessels and the goods they carry.

Who needs Marine Hull & Cargo Insurance?

Marine Hull & Cargo Insurance is essential for any business or individual with a financial interest in the movement of goods or the operation of vessels. This includes importers and exporters moving goods across international borders, trading companies and commodity merchants managing regular cargo shipments, manufacturers and distributors relying on supply chains that involve sea or multimodal freight, logistics and freight forwarding companies responsible for goods in their care, vessel owners and operators, and businesses involved in the UAE’s thriving international trade and re-export market.

What is not covered under a Marine Hull & Cargo policy?

Standard exclusions typically include losses arising from the natural tendency of certain goods to deteriorate, inadequate packaging, deliberate damage, war and strikes (unless specifically endorsed), and losses arising from delay rather than physical damage. For hull policies, wear and tear, gradual deterioration, and damage arising from lack of maintenance are also typically excluded.

What is an Open Cover policy and do I need one?

An Open Cover policy provides automatic marine cargo insurance for every shipment your business makes within agreed parameters, eliminating the need to arrange cover individually for each shipment. It is the most practical and cost-effective solution for businesses with a regular programme of cargo movements.

How do I make a claim following a marine incident?

Notify GSIB immediately upon becoming aware of a loss or damage, whether its at sea, in port, or during transit. Where possible, preserve the damaged cargo or vessel in its current state and document all damage with photographs and shipping documents. For cargo claims, obtain a survey report from an independent marine surveyor at the port of destination before accepting the delivery of damaged goods.

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Protection For Your Trade

Designed to safeguard your vessels, your goods, and your trade interests at sea