Welcome to JLT Independent

Marine Insurance

Maritime transport constitutes bulk of trading in India. Approximately 95% of trading by volume and 70% by value is carried out through this mode of transport, Maritime Industry is very critical to the country’s growth. India has a natural advantage with a coastline of 7500 km and due to policy of liberalisation the Indian shipping industry has been given to private sector. Indian shipping industry has become one of the leading industries in the world when it comes to fleet size.

GET IN TOUCH

Bidhan Saha

Director - Energy, Construction and Major Corporate Risk Group, JLT Independent

022-45105904

bidhan_saha@jltindependent.com

What We Do

Our team comprises of highly skilled senior specialists who are widely experienced in adapting to market conditions, analysing and responding to time-critical needs of the industry and innovating strategic risk solutions for all types of marine and transportation, Hull and P&I related risks - related risks inherent in India.

Creative and aggressive deal-making in the insurance and reinsurance markets is a core competency. We have excellent relationships with insurers and reinsurers. This enables us to accommodate fully the complex risk transfer and reinsurance requirement of the industry and their insurers, and structure sophisticated programmes with very competitive, favourable terms using quality insurers. We are experienced in almost all industry sectors, being particularly strong in manufacturing, commodity training and logistics. The JLT Cargo team, one of the Indian market’s leading providers in this sector, provides end-to-end service and competent staff to ensure that we can meet your requirement.

Why JLT

JLT’s Marine Division is the leading London Market Marine Broker with one of the largest books of Marine business. We arrange insurance for over 6,500 vessels to ensure our clients benefit from the breadth and depth of specialist resources, which offers a proven track record in delivering results. With our different approach to business, we invest heavily in developing relationships and gaining knowledge of your operational needs, aspirations and challenges, thereby delivering a tailored service package.

Jardine Lloyd Thompson has specialist knowledge of the sector’s unique economic, regulatory, technological and physical challenges. Today, we are one of the most experienced insurance intermediaries in the region, serving an elite clientele comprising premier corporations, major international ship owners and operators. JLT’s Cargo team seeks to offer outstanding broking, technical and claims expertise from the policy’s initial design and formation. With a view to create exceptional relationships with client, we provide significant strategic support, undertake period account reviews and add value where applicable. Quite simply, we add value by listening to our clients and providing custom made programs, utilising our experience, technical and transactional ability.

Insurance Solutions (Key Services)

JLT Independent offers a comprehensive range of fully flexible Marine Cargo & Hull products and services

  • Marine Cargo Policy-Declaration based
  • Sales Turnover Policy (STOP)
  • Single Transit-Export/Import
  • Project Cargo
  • Delay in Start-Up
  • Stock Throughput
  • Freight Forwarders Legal Liability / Multimodal Transporters Liability
  • Reinsurance Programmes-Facultative Placements
  • Global Marine Programmes
  • Bulk Oil/Commodities-Guaranteed Outturn Clause (GOT)
  • Hull and machinery-Ocean going vessels/inland vessels/coastal vessels
  • Increased Value
  • Freight
  • Single Voyage/Tow Risks/Heavy Lift
  • Protection and indemnity
  • Loss of hire
  • War risks
  • Shipyards/Builders risk
  • Ports and terminals
  • Yachts/Speed boats
  • Charters liability
  • Ship repairer’s liability
  • Mortgage Interest Insurance
  • Funeral Voyage
  • Jetty Insurance
  • Reinsurance Programmes-Facultative Placements

Claims Management

Apart from designing, marketing and administering Marine Cargo & Hull insurance programmes, we offer comprehensive claims services. Our experienced and tenacious claims team provides ongoing claims management services as well as aggressive third-party recoveries that have a significant positive impact on clients’ financial bottom lines. We also offer specialist claims consultancy to assist in the formulation, negotiation and settlement of large and complex claims. Accident, overturning of vehicles, shortage, mishandling, theft, rain water damage are some of the common types of losses that occur in marine cargo policy and our experts advise clients in managing these claims.