Crew P&I
Deductible
Buyback
Insurance
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Shipowners may retain substantial deductibles under their primary P&I insurance for crew illness, injury, medical treatment and related liabilities.
Crew P&I
Deductible
Buyback
Insurance
_________________________________
Shipowners may retain substantial deductibles under their primary P&I insurance for crew illness, injury, medical treatment and related liabilities.
Marasco has developed specialist insurance solutions designed to reduce part of this retained exposure.
How It Works
The primary P&I Club remains responsible above the applicable deductible.
A separate deductible buyback policy may respond within an agreed layer below that deductible, subject to its own terms, limits and exclusions.
Why Owners Consider It
It may be relevant where:
- crew deductibles are significant
- the fleet experiences regular medical claims
- Owners want greater cost predictability
- crew claims create meaningful annual retained losses
Important Considerations
Marasco reviews:
- P&I deductible
- number of crew
- vessel type
- fleet size
- claims history
- crew nationalities
- per-capita premium
- coverage limits
- claim submission procedures
FAQs
Does this replace P&I insurance?
No.
Can it insure the entire P&I deductible?
Coverage structure depends on the agreed facility.
Is premium normally fleet-based or per crew member?
Depending on the facility, pricing may be calculated per crew member per annum.
Does Marasco assist with claims submission?
Yes, according to the agreed operational claims procedure.
