Hull – Builders’ Risks

We provide shipbuilders with coverage for the various perils faced during the construction or conversion of vessels.

What we offer

Physical loss of or damage to the vessel during construction and associated liabilities whilst the vessel is under shipbuilder's care and control. All subject to the terms and conditions of the actual policy.

Up to US $100,000,000

To offer a quotation, we require fleet details and a claims record.

How can we help

We provide shipbuilders with coverage for the various perils faced during the construction or conversion of vessels. These will typically include such risks as sea trials, third party liability during construction, and removal of wreck.

The Beazley Difference

BEING BOLD

Freedom lies in being bold. We dare to be different and seek bold possibilities to create more innovative, fair and satisfying outcomes for our clients, brokers and employees. From insuring the highest building in thea world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.

STRIVING FOR BETTER

Good is a start, but we go all-out for better. A driven community of individuals relentlessly push the needle and creating value. From launching the market’s first dedicated ESG syndicate to the establishment of our business unit focusing on designing digital insurance solutions, we pride ourselves on always going above and beyond. Simply put, at Beazley we go to 11.

DOING THE RIGHT THING

Acting with integrity in a straightforward, decent way is instinctive. Open and honest with others, we show respect and empathy however challenging the situation – demonstrated by our multi-award winning claims team. Doing the right thing makes for a fair-minded, rewarding environment and makes work and life better for all.

Examples or Scenarios

On hearing that a client’s vessel was listing we immediately deployed our in-house marine engineers to assist. With the support and technical guidance of our engineer the vessel was stabilised (she had been listing heavily from a grounding and was close to being a total loss) and the cargo on board was saved from further damage. Towage was organised which allowed the vessel to successfully reach her destination. With the benefit of having our engineer ‘on the ground’ for more than 16 days, Beazley’s claims managers were able to directly understand the client’s needs, resulting in prompt payments of funds.