Gard, a P&I, marine and energy insurance products provider, is set to launch a new liability policy, which allows ship managers to receive financial protection, claims handling and legal assistance.
The launch is in response to liabilities arising from negligence in performing contracted duties, and it is an extension to Gard’s portfolio, catering to the requirements of different parts of the marine industry, the company said.
Gard Product Development vice president Andre Kroneberg said, "This policy is in response to what we saw as a market need for comprehensive and transparent cover for ship managers.
"Whether cover is sought as a result of a mishap or a dispute, our ship manager clients can rest assured that they will have the fullest possible protection, benefitting from Gard’s strong balance sheet and the highest financial security rating in the marine market.
Kroneberg concluded, "Our main objective at Gard is always to help our Members and clients manage their exposures to existing and developing risks."