- Article 2/5/13 - Ian Hyslop Legal Consultant for TT Club 'UK Authorities Impose Fines on Operators Inadvertently Handling Goods on which Duty is Unpaid'
- Article 23/04/13 - TT Club's Marcus John 'Port Operators Need to Expect the Unexpected '
- Article 10/04/13 -TT Club's Andrew Kemp 'Business development opportunities for brokers afforded by the Middle East'
- Article 5/04/13 - TT Club's Andrew Kemp 'Don’t be fazed by HMRC move'
- Press Release - TT Club Sees Innovation Proliferate in the Logistics Sector
- TT Club’s Financial Strength Rating Once More Set at A- (Excellent)
Ship Operator Cover
The TT Club offers a comprehensive package of liability and equipment cover to ship owners, charterers and combined transport operators in deep sea, short sea and river trades.
Insurance is designed to operate in conjunction with P&I cover, minimising the chance of gaps or overlapping covers. Many ship operators engage in other business activities such as freight forwarding, ships' agency or terminal operations and these can also be insured by TT.
The TT Club's cover provides protection for investment in capital equipment, as most finance houses will require security in the form of insurance against a loan. Similarly, equipment lessors require that lessees have comprehensive liability and equipment insurance.
TT's standard insurance product includes access to the TT Club's worldwide equipment survey programme which is designed to speed up claims processing and provide a body of loss prevention data accessible via ClaimsTrac. Equipment cover can include containers, chassis, trailers and ship-borne handling equipment such as forklift trucks, tugmasters and cranes.
Standard covers include:
- Loss of or damage to equipment including loss due to marine war risks, strikes, riots and terrorist risks
- General average and salvage
- Third party liabilities linking with P&I cover, eg during carriage on land
- Cargo liabilities due to defective equipment during pre or on carriage arranged by shipper or receiver
- Fines imposed by an authority which are not covered by P&I insurance, eg confiscation of insured equipment
- Investigation, defence and mitigation costs
- Disposal, quarantine and disinfection costs
Property covers include:
- Docks and wharfs
- Handling equipment
- Straddle carriers
- Reach stackers
- Top lifters
- Fork lifts
- RoRo ramps
- Tractor units
- Locomotives and rolling stock
- Rail & road infrastructure
Additional covers may include:
- Political risks including war risks on land, capture, seizure and requisition of equipment
- USA chassis liability
- Forwarding liabilities when arranging pre and on-carriage
- Ships' agency liabilities
Long term contracts are available on request subject to agreement of terms. Enquiries should be directed to your broker, or to the Club.
Examples of how TT Club helps its members.