Port package is a comprehensive policy for port authorities and terminal operators. The policy coverage includes:
- Property damage (Physical damage to property by fire and other natural perils like storm, cyclone, tempest, hurricane etc)
- Floating objects (Damage to vessels and other floating objects including all risks involved with dredging operations)
- Port Liabilities
- Removal of Wreck
- Clean up cost
- Port Blockage
- Business Interruption consequent upon damage due to any peril insured under the policy
- Fines and duties
- Investigation, defence and mitigation costs
- Disposal, quarantine and disinfection costs
- Architects’, surveyors’ and consulting engineers’ fees necessarily incurred in the reinstatement of the property, consequent upon its destruction and damage
- Loss or damage to equipment including loss due to strikes, riots and terrorism
- Liabilities for loss or damage to cargo, customer’s equipment and ships
- Liabilities arising from errors and omissions including delay and unauthorised delivery
- Third party liabilities including collision/impact and sudden accidental pollution
- Legal costs incurred in defence of any claim arising from accident insured against provided, prior written consent taken from underwriters
