Ocean Marine Insurance Coverage
Travelers Canada is a leading provider of ocean marine insurance in Canada with an extensive portfolio of commercial marine coverage that includes cargo, hull, marine liabilities and luxury yacht. With in-house and streamlined risk control, recovery and claim expertise – and a property and casualty unit dedicated solely to our customers' non-marine exposures – Travelers Canada provides total ocean marine insurance solutions.
Travelers Canada’s history in the ocean marine insurance industry speaks for itself. We've been providing the world's oldest form of insurance, marine cargo insurance, for more than 160 years, and we were the first North American carrier to offer a marine general liability insurance (MGL) package, a comprehensive way to cover and repair your commercial vessels.
Who Is Commercial Marine Insurance Right For?
We insure a wide range of clients in the marine industry including:
- Fleets of oceangoing and domestic vessels
- Importers and exporters (cargo only)
- Wharfingers/Stevedores/Terminal operators
- Ship repairers
Features of Marine Insurance Coverage
Travelers Canada has the knowledge and expertise to provide the best ocean marine insurance coverage support for your business, and to reduce risk in the process. Our broad range of coverage options stays in touch with the ever-changing landscape of the ocean marine industry to provide ideal policies tailored to your needs.
- Ocean marine and air cargo insurance
- Bluewater/Brownwater hull and machinery insurance
- Protection and indemnity insurance (in conjunction with hull and machinery risks)
- Luxury yacht – Hull and protection and indemnity coverages
- Marine legal liabilities
Commercial Marine Insurance Solutions
Marine Cargo Insurance
This is the oldest form of insurance as we know it today. Coverage is against physical loss or damage to international air and sea cargo; ranging from basic damages to all-risk insurance. Marine cargo insurance coverage is written on a warehouse-to-warehouse basis, tailoring every part of your coverage to your needs. The basic policy is generally extended to cover temporary storage, inland transit, war risk, strikes, riots and civil commotions.
Bluewater/Brownwater Hull and Machinery Insurance (fleets only)
Providing coverage against physical damage, sue and labour and collision liability on commercial ocean going and domestic vessels operating in the coastal and inland waters of Canada.
Luxury Yacht Insurance
Providing all-risk coverage against physical damage, as well as liability coverage under the protection and indemnity section.
Shipwright and Marine Contractor Insurance
Shipwright coverage is designed for specialty ship repairers and marine contractors with gross receipts up to $500,000. It provides marine general liability, including coverage for products, completed operations, contractual liability, ship repairer’s legal liability and miscellaneous property coverage for tools/supplies, plus workboat coverage.
Protection & Indemnity Insurance (P&I)
Coverage is offered for both property damage and bodily injury in conjunction with hull and machinery risks.
Marine Legal Liabilities
Marine liability insurance coverage provides coverage for all classes of traditional marine and marine related support operations working in the care of your company, such as wharfingers, terminal operators, ship repairers, charterers and more.
Our Ocean Marine Insurance Services
Even with prevention, incidents within the ocean marine industry happen, but filing claims should never be a complicated process for your business. Our team is with you every step of the claims process from initial assessment to finalizing your settlements, with the goal of successfully moving your business forward at the forefront of our strategy.
Travelers Canada Risk Control's mission is to prevent losses before they have the chance to impact your business. Using strategic industry-specific resources, we fine tune a ocean marine insurance policy custom to your business, and in doing so we uniquely provide preventative protection for many potential uncertainties in your field.
Whether your business has limited U.S. or international dealings or operates in countries around the world, we can provide coverage for our Canadian clients from initial startup and provide marine insurance solutions in every step of their evolvement and expansion when facing local regulatory requirements.