Off hire & Fine coverage

[Petros]

Does anyone know if P & I Clubs usually cover off hire or fines risks and under which circumstances / terms? Is it a very expensive coverage and do owners choose to cover off hire periods and risks of various fines?

[saltwater]

Does anyone know if P & I Clubs usually cover off hire or fines risks and under which circumstances / terms? Is it a very expensive coverage and do owners choose to cover off hire periods and risks of various fines?


The Strike Club is a mutual insurance Club specially formed to cover perils such as the above. Please refer to the below website for more information.

www.http://www.thestrikeclub.com/HTML/default.htm (http://www.http://www.thestrikeclub.com/HTML/default.htm)

Below is a typical insurance offer / quotation.

Assured
Nationality GreeceType of cover Strike and Delay - Full cover Type of account Annual entriesVessels 4 / as per attached listDaily Entered Sums Usd 20,000.-Trading Worldwide (see limitations / exclusions below)============================================ ========CLASS I&II Combined

Rule 8 and 9(a)(i) : Strike Cover7 days in excess of 1 day deductibleRule 8 and 9(a)(ii): Delay Cover7 days in excess of 1 day deductibleRate : 101.15% of daily entered sum per annum pro rata============================================== ======COVER EXCLUSIONSBangladeshCOVER LIMITATIONS:For India, Brazil, West African ports (Morocco to South Africa both inclusive)
a 2 day deductible to apply.============================================ ========CLASS IIIRule 10(a)(i) Crew strikeRule 10(a)(x) Machinery DamageExcludedOPTION 1Rule 10(a)(ii) Collision, Grounding, Stranding & Striking FFO's10 days in excess of 4 days deductibleRule 10(a)(iii to ix) Delay 7 days in excess of 1 day deductibleRate: 58.85% of daily entered sum per annum pro rata

The above cover offer will be comprehended once you have downloaded the Rule Book http://www.thestrikeclub.com/HTML/library_rule.htm

Hope the above helps

[Petros]

Thanks.

I am not going to go into calculations of course, but it gives us a general idea.

The club's homepage however doesn't open. Maybe they have changed their website address (???)

[saltwater]

The correct address reads as follows:

http://www.thestrikeclub.com/HTML/default.htm

[Petros]

We are really talking about high speed in response here!!!

Thanks again.