Port & Terminal Operator Liability

Port and Terminal Operator Liability insurance is a crucial aspect of risk management for companies involved in the maritime industry. This type of insurance provides protection against various liabilities that may arise in the operation of ports and terminals. Here is an overview of the key coverages offered under port and terminal operator liability insurance:

General Liability Coverage: Protects against third-party bodily injury and property damage claims that occur on the premises of ports and terminals including legal defense costs and settlements related to claims of negligence or other liabilities arising from operations.

Pollution Liability Coverage: This coverage covers liabilities for pollution incidents that may occur during cargo handling, storage, or transportation activities. It provides coverage for cleanup costs, third-party property damage, and bodily injury resulting from pollution incidents at the port or terminal.

Marine Liability Coverage: Protects against liabilities arising from maritime operations, including vessel collisions, cargo damage, and stevedore negligence.

Terminal Operator's Liability Coverage: Specifically designed to protect terminal operators from liabilities specific to their role in the maritime supply chain. Covers liabilities for damage or loss of cargo during handling, storage, and transportation within the terminal premises.

Business Interruption Coverage: Insures against financial losses resulting from disruptions to port or terminal operations due to covered perils such as natural disasters, fire, or mechanical breakdown. Provides reimbursement for lost revenue, extra expenses, and ongoing operating costs during the period of interruption.

The premium for Port and Terminal Operator Liability Insurance is determined based on various factors, including the underwriting information provided by the operator. Underwriting information is crucial as it helps insurance companies assess the level of risk associated with insuring a particular port or terminal operator. Factors such as the size of the operation, the type of cargo handled, safety measures in place, past claims history, and compliance with regulations are all taken into consideration during the underwriting process.

By working with AMG, operators can access a wide range of insurance options from top-rated carriers and receive personalized guidance to select the most suitable coverage for their specific needs.