Specialist Tonnage

As the world continues unceasingly in its demand for technological advances, design of machinery and equipment throughout industry has become increasingly sophisticated, and specific for purpose.

The Maritime Industry has never been immune to this trend, oil tankers and container vessels both being regarded as innovative and almost revolutionary, in their time, and with their emergence came the need for new insuring forms, in the recent past, vessels of a new size were developed to carry product for the burgeoning LNG industry. JLT was central in the discussions with Underwriters that took place to cater to this new class of tonnage, and as a consequence, today we place over 30 per cent of the global LNG fleet.

This is no less the case today, with tonnage being ordered and built to perform highly defined and very specific functions for different Industry sectors. A number of these units are hybrids; water borne craft performing functions previously undertaken ashore, or are faced with exposures more traditionally found in non-Marine markets.

This specialist tonnage continues to emerge with their own peculiar risk profiles. These include highly sophisticated (DP3) Offshore Construction Vessels being used to support the requirement to develop deep water drilling projects, single function support vessels carrying the latest systems and equipment; floating production, storage and offloading vessels for both oil (FSO and FPSO) and now emerging LNG (FLNG) product; and self propelled power barges, which carry large generating plants, for use as temporary power sources to entities ashore.

Our approach to this tonnage remains consistent. We learn and fully understand the client and their needs, the activities and exposures that the tonnage presents, and where these risks would best be placed to meet these requirements.

JLT has developed comprehensive coverages in the market which embrace all of the disparate risks for specialist units in single policy forms.

JLT Events

JLT host a range of events throughout the year. To find out more click below.

	17/08/2010	JLT Marine Division - Leading the way in Marine Insurance
	04/08/2010	Review of the Marine Hull Insurance market
	26/07/2010	Europe's leading independent insurance brokers announce a closer affiliation
	30/06/2010	IPT Bulletin - June 2010
	30/03/2010	New appointments strengthen JLT's Marine Division