Trade Disruption Insurance (TDI)

TDI is a relatively new form of insurance used by shipowners, charterers & managers/operators of cruise vessels to protect the daily earnings of the vessel from environmental, physical and political risks.

The product is a form of Loss of Hire that excludes machinery damage. TDI responds in three specific ways:
 

  • Loss of Earnings
  • Additional Cost and Expenses
  • Contractual Penalties

Perils that can be insured are:

  • Fire or explosion on land
  • Storm, hurricane, tempest, flood, snow, ice, fog, lightning or any other extraordinary weather
  • Earthquake, heave, landslip, subsidence or volcanic eruption
  • Aircraft impact
  • Capsize of Conveyance
  • Emergency port closure
  • Hulls perils - this can be substituted for Norwegian, Finnish or American hull plans depending on our client’s requirement.
  • Abnormal obstruction of a berth *Master’s refusal -
  • Border closure
  • Expropriation
  • Embargo
  • Vandalism
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