Insurance for civil liabilities of ship - owners

All ship-owners whose vessels operating in lakes, rivers, inland waters and territorial waters of Vietnam, without discrimination against their economic sector, shall be entitled to place insurance for their civil liabilities with BIC

This insurance shall cover for:
o Liabilities to the third party such as expenses arising out of risks happened during the operation of insured vessel, for which the owner must be legally liable,
o Legal liabilities of ship-owner caused by the insured vessel arising from damage to jetty, dam and dyke, raft, fishing net, onshore or underwater construction, fixed or movable, personal injury or loss of life, loss of or damage to property of third party
o Collision liabilities:
o Towage liabilities:
o Cargo liabilities

The ships operates in international maritime routes which were certificated by Vietnam Register or the equivalent foreign registry agencies.

Protection and indemnity insurance, commonly known as P&I, is a club with similarity to a marine insurance against third party liabilities and expenses arising from owning ships or operating ships as principals. P&I covers for main risks as follow:

1. Personal injury to or illness or loss of life of crew members
2. Personal injury to or loss of life of stevedores
3. Personal injury to or illness or loss of life of passengers and others
4. Loss of personal effects
5. Diversion expenses
6. Life salvage
7. Collision liabilities
i. One-fourth collision liability
ii. Other risks excluded from the Running Down Clause
iii. Excess collision liability
8. Loss or damage to property other than cargo
9. Pollution
10. Towage contract liabilities
11. Liabilities under contracts and indemnities
12. Wreck liabilities
13. Cargo liabilities
14. Cargo's proportion of general average or salvage
15. Certain expenses of salvors
16. Fines
17. Legal costs