The main areas of coverage that ports and terminals purchase insurance for are construction, liability, property, equipment, and business interruption. They often buy coverage for other marine related risks, such as environmental. Insurance coverage is also available for the diverse activities at ports and terminals, such as ship repairs, railhead management, and warehousing.
Ports and terminals are becoming increasingly sophisticated intermodal hubs with a unique set of challenges. Our specialist team designs insurance and risk management solutions for ports and terminals to meet the specific requirements of each operation and support strategic direction.
We help you understand your stakeholder risk throughout the construction, redevelopment, and operational lifecycle of a port or terminal.
Our experience includes
- US Longshore and Harbor Workers’ Compensation Act
- Construction risks
- Liability risks
- Property and handling equipment risks
- Port vessels’ risks
- Revenue stream risks
- Environmental risks
- Political violence and terrorism risks
- Cyber risks
- Other operational risks
We are committed to helping you build appropriate and cost-effective insurance and risk management programs by offering risk quantification, finance optimization, and risk maturity assessments, as well as other risk analytics and advisory services.
In addition to our placement expertise, our marine claims advocacy team offers services far beyond traditional claims handling. We help you reduce costs and maximize recoveries for your casualty and property claims, before, during, and after a loss. Through our range of claims services, we have the skills and resources to meet your claims scenario, however large or complex.
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FAQs
Buyers of insurance include: port authorities, municipalities, harbor authorities, terminal operators, depot operators, stevedores, wharf owners/keepers, and warehouse keepers.
Increasingly, ports and terminals are looking for information and data efficiencies. These might be in relation to freight systems, passenger booking systems, or customs requirements. The risk of computer outages or cyberattacks is very real. Ports and terminals need to understand their weak points and be able to quantify risk in order to manage it, improve their resilience, or insure against it.