Insurance Details

An optional policy conceived in order to insure the commercial ships, fishing ships and collector ships, as well as floating plants and machinery, assimilated to ships.

Likewise, the insurance of the war ships is made within the terms of a special, written acceptance of the Insurer.

 The insurance is valid in compliance with the entries in the ship classification certificate, in the insurance policy and, to the extent there are no restrictions in terms of the seaworthiness limits granted to the ship.

General Tax Provisions

According to the applicable tax legislation, the insurance premiums are not VAT bearing.

Any insurance indemnity afferent to the insurance contract and the additional clauses is not subject to the income tax. These tax specifications are valid subject to the amendment of the tax legislation (the tax Code and any legislative act adopted for the application thereof).

 Advantages of taking out a Marine and Aircraft Insurance via SAFETY BROKER

 We negotiate directly with the Insurer in order to obtain the best offers for your company for any form of insurances;

We monitor the entire portfolio of your company and we notify you about expiry dates, consultancy in case of occurrence of an insured risk;

Dedicated account manager during the performance of the insurance contract.

Obligations of the Insured

Main Obligations of the Insured

  • To maintain and operate the ship in good conditions and in compliance with the legal provisions, in order to prevent the occurrence of the insured events;
  • To take, on account of the Insurer and within the insured amount, according to the circumstances, measures for the limitation and mitigation of the damages produced following an insured event;
  • To take, according to the circumstances, the necessary measures for the salvage and preservation of the damaged ship, as well as for the immediate placement of the ship in state of use, by own means and to resort to repairs in workshops or on construction sites, with the Insurer’s consent, only in case this is not possible;
  • To notify the Insurer in writing as soon as they ascertained the occurrence of the insured event and before the inspection or the repairs is/are made. The non-fulfillment of the obligations or the failure to comply with the deadline exonerates the Insurer from any payment, if the Insurer could not thereby determine the damage occurrence cause and the quantum thereof. The notification shall comprise information on the data, circumstances and causes of the damage, the type and approximate extent thereof, as well as the eventual claims of indemnification estimated for the damages produced to third parties. The displacement of the ship to a harbour for docking and repairs, as well as the choice of the repairing firm, shall be made with the Insurer’s consent;
  • to allow and facilitate to the Insurer or the proxies thereof the inspection of the insured ship, the participation in the damage acknowledgement and assessment and in the verification of the repair works, providing it with the inspection protocols, as well as with any other documents that could be necessary;
  • to take the necessary measures for the recovery of the damages from the ones liable for the damage occurrence, asking the Insurer’s approval as well, in the event these measure imply additional expenses and to preserve the Insurer’s recourse against the ones at fault;
  •  not to make any payment, not to undertake any obligation and not to incur any expense related to the claims of aggrieved third parties, without the Insurer’s consent.

Covered Risks

The Insurer grants indemnification for the loss or damages caused to the insured ships by the events and/or hazards of the seas or other domestic waterways, occurred while sailing and/or during the legal operation thereof, as well as for the liabilities and/or additional expenses deriving therefrom, according to one of the following particular conditions:

 - Total Loss, Common Damage, Particular Damage and Liability for collisions with third parties;

- Total Loss, Common Damage and Liability for collisions with third parties;

- Total Loss, Common Damage and Particular Damage;

- Total Loss and Common Damage;

- only for Total Loss;

Upon the Insured’s request, the parties can agree for the insurance taken out in one of the conditions above to be extended in order to cover the War and Strikes risks as well.

Particular damage – direct and involuntary damage produced to the insured ship as a consequence of the occurrence of an insured risk.

Common damage – the sacrifice (made by the captain of the ship transporting the cargo), made in order to take both the ship and the cargo out of a danger hovering over both. As a result, both the ship owner and the cargo owner bear a fair part of the loss if they are not insured.

 The total loss can be:

- actual – only in one of the following situations: when the ship is destroyed, when the Insured is irremediably deprived of the possession over the ship, when the ship is declared "missing";

- constructive – it is considered when the cost of the recovery of the ship and/or the cost of the repair of the ship exceeds by a certain percentage (usually ¾) the insured value of the ship;

The liability for collisions with third parties is optionally insured on this policy in a proportion of ¾ of the Insured Amount on the Policy.


The Marine and Aircrafts Insurances are not taken out in case of:

- war (even undeclared), civil war or war operations, invasion, military occupation, insurrection, sabotage, military dictatorship or usurpation of power, action of groups of malevolent people or people acting on behalf or of related to any political organization, conspiracy, seizure, nationalization, expropriation, requisition, destruction or damage from the order of a de jure or de facto government or any public authority, terrorist acts;

 - explosions or heat releases or radiations originated from the nuclear fusion or fission, as well as by the radiations caused by the artificial acceleration of the particles;

- pollution and/or contamination;

- actions of mines, torpedoes, abandoned bombs or other abandoned war weapons;

 - the damages produced by forcing the ice, except for the ships especially intended for this purpose;

The Insurer does not cover loss, damages, liabilities or expenses regarding the insured ship, directly or indirectly caused by:

- the incapacity or incorrect operation of any electronic, computerized system, software application, hardware component, microchip, integrated circuit, operating system, electronic equipment or component, belonging to the Insured or not, having as a result the incorrect or ambiguous transmission, change, interpretation, handling, processing, recognition, correspondence or transfer of the time, date or year;

 - any amendment, implementation or test of any electronic, computerized system, software application, hardware component, microchip, integrated circuit, operating system, electronic equipment or component, belonging to the Insured or not, made in order to change or modify the year, date or time, or any provided assistance or service related to this kind od changes or amendments;

The provisions of the items above are not applied in the event the Insured proves that the events of the nature of those described in that item are not result of the lack of diligence thereof, of the ship-owner, of the managers, superintendents or of any person from the coast management;

What do I do in case of damage?

In case of an insured event, a standardized procedure is followed for the solving of the respective situation, the client being supported by the insurer and the broker throughout this process.

Damages Call Center: 031 9660

Cătălin Chiriac, Deputy CEO Safety Broker: 0740.07.68.61