H&M Insurance Subject

Hull and Machinery (H&M) Insurance is a type of maritime insurance that covers physical damage to a ship’s hull, machinery, and equipment. Here are some key points about H&M Insurance:

• Coverage: It protects against damage to the vessel caused by various perils such as collisions, grounding, fire, and other maritime risks.

• Scope: This insurance is applicable to all types of vessels, including cargo ships, passenger ships, and other sea and lake vehicles

• Liability: While H&M Insurance covers the ship itself, it is often complemented by Protection and Indemnity (P&I) Insurance, which covers liabilities to third parties

• Claims: In the event of damage, the insurer compensates the shipowner for the repair or replacement costs, ensuring the vessel can return to operation as quickly as possible.