We have arranged automatic facility to insure the guarantee of all certified or approved products, materials or systems having protective, anticorrosive, fireproofing, surface protection or water tightness properties such as industrial and marine paints, coatings, mortars, screeds, sealants and linings to be applied on steel, aluminium, concrete or composite.
TYPE OF COVERS
- Project based cover
(one-off) for a specific project or for a series of projects or works;
- Annual based cover
(renewable) for annual productions or systems, or for a series of projects.
What do we cover?
- Corrosion (according to ISO or ASTM scales);
- Detachment, delamination, blistering, flaking and cracking (according to ISO or ASTM scales);
- Water tightness, anti-carbonation, etc.;
- For very specific systems or applications only: loss of gloss, loss of colour, hardness, fouling;
- If required and subject to special conditions: dry-docking costs and off-hire costs.
Who is or can be covered?
- The Manufacturer of the products or his Distributors/Representatives;
- The Contractor/Applicator, and or his Sub-contractors;
- The Shipyard and his Main or Sub-contractors;
- The Owner/the Principal.
All these parties can be insured jointly or separately. The Insurer has no recourse against the insured parties in case of a claim.
- 2 years for Super- and Mega-yacht Coating systems;
- 5 years for Marine Coatings;
- 10 years for Industrial Coatings / Paints / Linings / Mortars / Sealants / Screeds / Roofing materials.
The period can of guarantee can be extended, renewed, for a same period subject to a condition survey. The period of guarantee is for a one-off period, non-cancellable. Premiums are also one-off for the whole period of guarantee.
Which repair costs covered by the guarantee?
- Coating / paint / lining products or materials;
- Labour, application cost, inclusive cost of surface preparation;
- Transportation cost of personnel and of products or materials;
- Additional costs such as cost of access, renting or hiring cost of cranes, scaffolding, ventilation, etc.;
- Dry-docking and off-hire costs if mentioned in the Special Cond. and subject to an aggregate limit;
- Other additional costs if mentioned in the Special Cond. and subject to an aggregate limit.
COMPULSORY SPOT INSPECTIONS
For each coating project or work we will require some "spot" (at random) inspections to be done by one of our experienced Inspectors. This Inspector will follow up the works from specification set-up, surface preparation until final acceptance or delivery of the works, and he will issue a final report which permits us to cover such works/projects.