This is property and liability insurance particularly designed for ship operators who own, operate or lease containers. Ship operators might wish to insure the loss of and/or damage to containers as well as the third party liabilities associated with the operation.
WHAT IS COVERED?
Skuld's Container Insurance provides coverage for the replacement value of the container. If the container is only a partial loss, the insurance will cover repair costs.
Furthermore, Skuld's Container Insurance for third party liability provides cover for member's liability arising out of the operation of containers for third party personal injury and property damage.
These two insurances can be arranged either separately for property (total loss only or all risks basis) and liability, or as a combined facility. The sum insured is the total value of the containers plus any limit member elects to purchase in respect of his liability for cargo and/or third party liabilities.
WHO CAN BE COVERED?
Any owners, operators or charterers who have a full P&I entry in the Association (including cargo), and who have an insurable interest in the containers can apply for the cover.
During transport from one terminal to another, one of member's containers topples off its trailer hitting an expensive parked American car. The couple inside is seriously injured and the container is a total loss. Skuld's Container Insurance would respond to the total loss of the container, the liability for injury to the couple and damage to the American car.