Loss of hire (LoH) insurance

Loss of hire insurance is a fundamental aspect of risk management in the shipping industry. Orbis Risk Partners, with our offices in Antwerp, Geneva, and Dubai, can assist you in finding the right loss of hire insurance solution, tailored to the unique challenges of the shipping businesses. This type of insurance is designed to compensate for the loss of income when a vessel is out of action due to covered perils, such as damage or mechanical failure. In an industry where time is money, loss of hire insurance is crucial for maintaining financial stability during unforeseen downtimes.

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The critical importance of loss of hire insurance in shipping operations

The shipping sector, with its reliance on the seamless operation of vessels, underscores the importance of having a robust loss of hire insurance. This insurance is integral to marine insurances, ensuring that businesses are not financially crippled when their vessels are temporarily unusable. In conjunction with other key policies such as Protection and Indemnity (P&I) insurance, loss of hire insurance provides a comprehensive safety net. It covers the income lost during repair periods, enabling businesses to continue meeting their financial obligations without interruption. For shipping companies, the right loss of hire insurance is not just about risk mitigation; it’s about business continuity and resilience.

Secure your interests

In the complex and ever-changing maritime landscape, having a knowledgeable marine risk consultancy by your side is invaluable. We offer a suite of services, including finding tailored loss of hire insurance solutions, to protect your maritime operations against various risks. We understand the intricacies of the maritime industry and are committed to providing insurance solutions that align with your business needs. Contact us to explore how our loss of hire insurance and other marine insurance products can enhance the security and operational efficiency of your maritime business.