Maritime Mutual can provide comprehensive H&M insurance in addition to Maritime Mutual P&I cover. This is an exclusive service available to Maritime Mutual Members and their entered vessels only. The upper limit of cover usually offered is USD 2 million but higher limits can be made available upon request.
The scope and terms of Maritime Mutual’s H&M cover are based on the globally recognised ITC Hulls 1/11/95 clauses. Members may select either ITC ‘95 Full Terms (CL.280) or ITC ’95 Restricted Terms (CL. 289), together with appropriate ITC ’95 War and Strikes cover.
A summary of both the asset and liability cover provided by the ITC ’95 Full Terms clauses is as follows:
Additional standard H&M clauses may also be agreed and included, together with other Maritime Mutual terms e.g. that a mortgagee bank is to be the policy beneficiary.