Insurance

When something goes wrong, both the financial fallout and impact on one’s reputation can create a devastating domino effect for large and small businesses alike. That’s why it’s paramount you opt for insurance services from an experienced company that understands the shipping and marine industry inside out. That way, when a disruption occurs, you’ll get the support you need.

Over the years, V.Group has earned itself an international reputation for providing the very best insurance services. With a professional and efficient claim handling service, our experienced marine insurance and claims management team are able to provide all our clients with reliable, effective insurance services – built up through decades of industry experience and expertise.

At V.Group, we understand both the critical role of shipping in the global economy and the range of insurance cover needed, as well as the risks posed by different vessels actively working within the sector. This allows us to negotiate better, more cost-effective prices from our underwriters, which we can then pass on to our clients. As a result, we are able to utilise our strategic position as a leading marine insurance provider to make sure your maritime asset is covered by the most appropriate protection, as well as ensuring you are protected from any liabilities or risks that could arise.

Through our London-based in-house insurance broking company, V.Scope Risk Management Ltd., V.Group’s fully integrated marine insurance services provide our clients with the very best customer service and insurance cover. We work tirelessly to ensure our clients are receiving exceptional, professional insurance coverage that meets the needs of both themselves and their vessel/s.

As the largest global provider of marine support services, V.Group is dedicated to delivering high-quality, effective insurance cover that exceeds the expectations of our clients. V.Scope is proud to work with every sector in the maritime industry to supply a range of insurance products that meet their operational requirements. Our diverse portfolio of clients ranges from shipowners, ship managers, banks and crewing agents to trade unions, charterers, ship repairers, offshore contractors and shipyards.

Maintaining operational safety and vessel performance depends heavily on the health and wellbeing of your crew. That’s why to help attract and keep the greatest maritime talent, V.Scope also provides owners/operators with access to comprehensive benefit packages for crews and their families.

For more information on our dedicated insurance services for the global shipping and marine industry, click here.

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Frequently Asked Questions

What does marine cargo insurance cover?

Marine cargo insurance covers loss or damage to property resulting from a collision, sinking or the stranding of ships, natural disasters, man-made catastrophes (such as theft, violence and piracy.), and other costs such as survey fees. Marine cargo insurance can also cover loss or damage to the ship's hull, machinery and other important infrastructure.

What is increased value in marine hull insurance?

Hull Interest Insurance, also known as Increased Value (IV) Insurance, is a type of property insurance that covers the complete value or mortgage value of a vessel as well as any additional expenses associated with rebuilding the vessel if it’s a total loss.

What types of marine insurance are there?

Do you export your goods abroad? If so, who insures your goods while they are being transported? Also, who is in charge of insuring the goods being transported? And if the customer is liable for insurance, is the level of coverage provided by the client's policy sufficient in the case of a loss?

Maritime insurance is a crucial component in the inner workings of the sector’s marine-centric solutions. There are three main types of marine insurance.

  • Marine Cargo Insurance – Marine cargo insurance covers loss or damage to property due to natural disasters, man-made disasters and disruption such as theft, violence and piracy, collision and the sinking/stranding of your vessel. Marine cargo insurance also covers additional expenses such as survey fees.
  • Hull Insurance – Hull insurance protects you against damage to your own vessel. It covers a variety of repairs including hull, machinery and equipment damage. Your planned usage for the vessel will determine the type of hull insurance you seek.
  • Marine Liability Insurance – Marine liability insurance protects clients from the numerous liabilities that can occur in the maritime sector. This type of insurance usually provides third-party liability insurance and usually covers liabilities arising from loss of life, injury and damage to third-party interests.

What is marine liability insurance?

As the name suggests, marine liability insurance often provides third-party liability insurance to businesses and organisations in the maritime sector, and typically addresses obligations resulting from wrongful death, bodily harm, and damage to third-party property.

Marine Insurance Solutions

At V.Group, our in-house insurance broker and risk company V.Scope provides owners/operators with the advice and guidance they need to find the best marine insurance solution for both their vessel and their business needs. With an experienced marine insurance and claims management team, V.Scope delivers industry-leading insurance that covers even the most complex of claims, from problems with machinery to wars and ransom situations.

With more than 20 years of experience, V.Scope understands the complexities of the maritime sector. We remain committed to delivering the very best insurance coverage in the industry.

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Insurance

Insurance

Any business is at risk of an accident that can be disastrous, causing financial and reputation damage. That’s why it's extremely important to have specialist insurance cover from a company that fully understand your business.

Part of V. Group, V. Scope fully understand the range of cover needed for the entire shipping industry. Our experienced team aims to provide the highest level of claims handling services with exceptional customer care.

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