As disputes and claims often arise under the terms of Charter Party, Booking note, Contract of Affreightment or Agency Agreement, Defence cover generally suits anyone who is a party to such contract. This includes Shipowners, Charterers and Operators.
Defence cover provides insurance for legal costs and expenses that are incurred in absence of a physical loss or third party liability. Such legal expenses are not recoverable under either the H&M or P&I cover and can be substantial.
- Disputes regarding demurrage or hire
- Disputes with respect to speed claims
- Disputes with respect to fuel consumption