Mainstream H&M and P&I insurances both exclude the loss of revenue following a covered event. Primary Layer Loss of revenue insurance provides a H&M / P&I Exclusion buy back for such unavoidable losses suffered during the initial 14 days’ delay.
Unique Characteristics of the Primary Layer Loss of Revenue cover:
Scope:
Primary Layer Loss of Revenue as a consequence of delays caused by named perils.
Applies to:
All Ship Operators.
How it works:
Mainstream H&M and P&I insurances both exclude the loss of revenue following a covered event. Primary Layer Loss of revenue insurance provides a H&M / P&I Exclusion buy back for such unavoidable losses suffered during the initial 14 days’ delay.
Unique Characteristics of the Primary Layer Loss of Revenue cover:
Markets:
Nordisk Marinförsäkring AB – Scandinavia.
Price Range:
It can vary subject to: Size of Fleet / Type and Size of vessels / H&M and P&I claims' trend (frequency being an important element).
Self Retention:
Minimum 1 day but varies by named peril.
Time to market:
2-5 days.
