Shipowners' liabilities (SOL) is a tailored cover against deviation from the standard route or the agreed bill of lading where there is cargo liability exposure. We can cover specific incidents of deviations from the bill of lading but an inclusive SOL cover can provide for liberties to deviate under the policy period. A SOL policy essentially replaces or buys back standard P&I cover with a fixed premium cover, typically with a limit of between US$10-50 million.
You may also be interested in:
On 28 September, VPS released an important alert regarding distillate fuels
A Roadmap for Ship Decarbonisation
Global warming is one of the most severe and complex challenges our world faces today; there is an urgent need to reduce emission levels and avoid the most devastating impacts of climate change and every individual, business, and industry, including shipping, has a part to play.
Circular 02/22: Special War Risks P&I Excess Cover, and Biocchem Cover, and US Terrorism Risk Insurance Act of 2002, as Amended by the Terrorism Risk Insurance Program Reauthorization Act of 2019
At their meeting on 7th February 2022, the Directors reviewed the basis on which special war risks P&I cover could be made available to Members in accordance with the proviso to Rule 5E.