Navigate Underwriting Managers not only offer our intermediaries a specialized watercraft facility but also an array of marine products in association with Mutual & Federal Risk Financing Ltd
We have worked hard to ensure that we offer the benefits of a large corporate integrator with hands on flexibility allowing speedy decision-making, without having to go through a hierarchy of authority levels. Our service, processing and issuing of documentation is speedy and accurate, to meet the high service level demands in the modern business environment. Navigate brings you expertise and technical support in this specialized market which so often tends to have a lack of marine specific technical support. Whether you are an established corporate Intermediary or a small independent Broker expanding your business into the Marine market, we are passionate about what we do and ready to support you and your business.
Worldwide marine cargo insurance policy protects against loss from the time cargo leaves the point of origin until it reaches a final destination around the globe.
Annual Marine Cargo Policy
An annual premium is established on the estimated value of all shipments that the insured is responsible to insure over the next underwriting period prior to inception. On expiry of the period the Insured declares his actual shipment volume. It is the easiest and most convenient way to cover the insured’s import and export risks.
Single Marine Policy ("one off" Certificate)
A Single marine cargo policy is for ‘one-off’ insurance cover for import or export shipments. This also applies to Goods in Transit single shipments. A Marine Insurance Certificate is issued and becomes the insurance policy for those goods, cover and period stated on the certificate only. Companies use this format when their estimated number of shipments annually is expected to be minimal.
Marine Open Policy
A Marine Open policy allows clients to make periodic declarations of shipments (e.g. monthly, quarterly) with premium payable on each declaration made. Historically a Marine Open policy is not subject to renewal and remains in force with a review date, providing cover on declared shipments as and when they are made until cancelled by either party.
Annual Stock Throughput Policy
This policy is often used to comprehensively cover the product of an Insured (raw materials, semi-finished and finished goods) for those clients that need cover for goods whilst being shipped, whilst in store as well as in transit. The policy commences when the Client purchases the product and continues through all transits including storage or at factory until delivery to final customer.
By combining a traditional general cargo policy and a non-marine policy into one Stock Throughput policy, this contract will firstly produce a premium saving and secondly will also avoid gaps in cover between the Marine risk and the Static risk.
The policy is subject to an Annual Premium payable monthly, quarterly or annually, which is normally based on the insured’s sales turnover.
Goods in Transit Policy
A Goods in Transit policy can be done for a “one off” transit or for annual cover where premium is based on the value of goods in transit, at the insured’s risk, during the insured period. This is very similar to an Annual Marine Policy except the Insured items are effectively "land locked".
Boat Builders Risk Policy
A Boat Builders Risk policy is designed to protect boat builders from loss of or damage to the hull and the machinery of a vessel during construction. The Policy meets the specific insurance needs associated with vessels in the course of construction. Insurance attaches from the time construction commences and continues during subsequent launching and sea trials, until delivered to the purchaser.