Admiralty bonds play a crucial role in the world of international shipping. Huge levels of investment are criss-crossing the seas and running huge risks every day.
Aside from weather and accidental damage, shipping can be seriously disrupted if a ship is involved in a collision, has been seized by authorities or if there is a legal claim made against the vessel.
In such circumstances, an admiralty bond is required, which allows for the release of vessels and other property that might otherwise be seized or arrested following a collision or during salvage operations.
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Why choose Tokio Marine HCC?
Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Europe, transacting business in approximately 180 countries and underwriting more than 100 classes of specialty insurance.
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