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Insure24 is a commercial insurance broker. We can help businesses organise and present information about their equipment, operations, locations, responsibilities and controls to suitable insurer markets. Availability, cover and terms depend on the individual risk, disclosure, underwriting and policy wording.
This page provides general information only. Examples of equipment, events and policy sections do not confirm that a particular risk, activity, loss or cost will be accepted or covered.
Commercial insurance broker support for offshore marine risks
PROTECTING AGAINST OPERATIONAL DOWNTIME
Insurance for Loss of Revenue When Marine Operations Halt
Marine and offshore operations depend on continuous performance of critical equipment - from ROVs and AUVs to deck cranes, engines, navigation systems, winches and survey tools.
When equipment breaks down or is damaged, the financial impact can be severe. Loss-of-hire and business-interruption proposals may address selected income or additional-cost exposures following an insured event. Insured causes, costs, limits and exclusions depend on the individual risk and wording; contractual penalties must not be assumed to be covered.
What Does Business Interruption & Loss of Hire Insurance Cover?
- Loss of income due to equipment breakdown
- Loss of hire for vessels or equipment
- Downtime caused by ROV/AUV failure
- Operational stoppage from damage or malfunction
- Contract penalties or non-performance costs must be disclosed and checked; do not assume they are covered
- Additional working costs to continue operations
- Standby crew and vessel costs during repairs
- Cover for delayed or cancelled projects
- Financial protection during investigation/repair
- Extensions for offshore and high-risk operations
Common Causes of Marine Business Interruption
- Critical equipment breakdown
- Power supply or generator failure
- ROV, AUV or sonar system malfunction
- Deck crane or winch failure
- Damage from impact, grounding or collision
- Storm damage to vessels or equipment
- Dockside accidents delaying deployment
- Supply chain issues causing delays
- Failure of hired-in equipment
Who Is This Cover Designed For?
Marine Operators
- Offshore service vessels
- ROV & AUV contractors
- Survey & inspection companies
- Cable lay & subsea construction firms
- Fishing & aquaculture operators
Equipment & Technology Providers
- Marine equipment hire companies
- Vessel & equipment owners
- Manufacturers & testing facilities
- Offshore engineering firms
- Survey electronics operators
Why Choose Insure24?
- Specialist cover for marine operational downtime
- Supports offshore, subsea and vessel operations
- Operating regions and territorial limits must be disclosed and agreed
- Underwriting and quote timing depends on the risk information and insurer review
- Tailored solutions for high-value equipment
- Expert claims support & rapid response
FREQUENTLY ASKED QUESTIONS
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What events can trigger a business interruption claim?
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Does this insurance cover loss of hire for vessels?
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Is cover available for ROV/AUV downtime?
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Does this cover contractual penalties or delay costs?
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Can hired-in equipment downtime be covered?
Related Covers
Keep exploring related marine-equipment pages on loss of hire, hired plant, subsea downtime, transit and claims planning.