Marine Professional Indemnity Insurance

What is Marine Professional Indemnity Insurance?

Specialist professional indemnity insurance for marine businesses giving professional advice, providing designs, or making recommendations. Marine Professional indemnity insurance protects your business and provides indemnity for claims and claimants costs, in respect of any civil liability, negligence, error or omission incurred in the course of your professional business

What types of business need Marine Professional Indemnity insurance?

Any business or sole trader providing professional advice or services, providing designs or making recommendations for example :

Average adjusters, Marine engineers, Marine surveyors, Crew agents, Naval architects, Crew managers, Marine Contractors, Diving contractors, Oceanographers, Customs clearance agents, Forwarding agents, Freight brokers, Ship agents, Ship brokers, Offshore consultants, Ship managers, Loss adjusters, Marine chemists, Yacht brokers, Marine consultants, Yacht managers

Is Marine Professional Indemnity Insurance Compulsory?

Not legally although membership of certain professional trade bodies requires that it is in place and most clients will require that you have it in place before they will work with you.

How much cover do I need?

That depends on a numbers of factors including the sort of work you are doing, the type of advice you are giving, the size and expectations of your clients and how much you can afford.