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Marsh Maritime Finance

Marsh Maritime Finance provides transactional and advisory services for financial institutions active in asset backed lending and project finance.

Marsh Maritime Finance a team of specialists based in London who provide independent insurance, advisory, and risk balance analysis services to financiers active in the maritime and offshore energy sectors. Comprised of insurance specialists who offer a deep understanding of the issues involved in project finance, our clients are banks and other finance parties that provide the funding for asset backed marine and energy projects worldwide.

Marsh Maritime Finance provides the following interactive services which can be used in whatever combination best suits the requirements of our clients:

Pre/Post Drawdown Advice

  • Assisting in the preparation of the insurance provisions of the loan documentation.
  • Reviewing project and finance documents and the allocation of risk therein from an insurance perspective.
  • Issuing reports at the various key stages/milestones to establish the suitability of the insurance programme and its compliance with the project and finance contracts.
  • Liaising with relevant parties to address and resolve any anomalies, gaps, or questions concerning the insurances offered for review.
  • Assisting in the preparation of assignments and loss payable clauses, the procurement of letters of undertaking, and the resolution of any conditions subsequent to drawdown.
  • Assisting in the procurement of the evidences of insurance for each policy renewal if so requested and if required, reviewing and reporting on the borrower’s insurance package at pre-determined milestones during loan period.
  • Answering any questions raised by the lenders’ review of sponsor’s technical analysis.
  • Provide lenders with insurance advice and assistance in the event of a foreclosure.

Transactional Insurances

During the lifetime of the loan certain insurances can be offered to protect the interests of the financiers. Marsh Maritime Finance personnel are recognised leaders in the evolution and placement of insurances specifically tailored to protect financiers active in the maritime and offshore energy sectors.  The most frequently used insurances are:

  • Mortgagees interest insurance (MII).
  • Mortgagees additional perils pollution (MAPP).
  • Mortgage rights insurance (MRI).

If the loan agreement has been appropriately worded the cost of these insurances will be borne by the borrower. Full details of these insurances, the scope of cover, when to buy, and the benefit to financiers in having these insurances in place are available upon request.

Portfolio Administration

To assist our banking clients in the efficient and professional administration of large shipping and/or offshore energy portfolios, Marsh Maritime Finance can provide an insurance portfolio administration function. The scope of this service function can be tailor-made to meet the specific needs of each client.

Crisis Management

Despite best plans and expectations, loans do not always run smoothly.  Marsh Maritime Finance can act for clients during foreclosure scenarios and following a casualty/claim/loss. Marsh Maritime Finance provides advice and assistance to ensure the interests of the financiers are always adequately protected. Advice can also be provided concerning any additional insurance that may be necessary to ensure the collateral asset is fully insured or which would be beneficial to the financiers’ position.