Port Package Insurance

A port package policy would cover, Section 1 Property damage, Real property – All accidental loss and damage including flood, earthquake, tsunami, impact damage from vessels, SRCC and Terrorism (excluding WAR), costs and expenses of removal of wreck. Main exclusions are defects in design, manufacture, mechanical electrical breakdown, explosions, release of safety valves, war, wear and tear, inherent vice, latent defect, error in design, faulty workmanship, seepage and backing up of sewers/drains.Handling Equipment -All accidental loss and damage including flood, earthquake, tsunami, impact damage from vessels, SRCC and Terrorism (excluding WAR), costs and expenses of removal of wreck. Main exclusions are war, wear and tear, inherent vice, latent defect, error in design, faulty workmanship, seepage and backing up of sewers/drains, electrical/mechanical breakdown of alarm systems, communication equipment, computers etc.Section 2 (i)Business Interruption (ii) Port blockage – Cover loss of standing charges arising out of a loss in Section 1. Section 3 Customer liabilities and third party liabilities – (i) customer liability (ii) third party liability (iii) liability for errors and omissions (iv) liability for fines and duties (v) removal of wreck (vi) cost for pollution, cleanup and containment.

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