TDI is a relatively new form of insurance used by shipowners, charterers and managers/operators of cruise vessels to protect the daily earnings of the vessel from environmental, physical and political risks. The product is a form of Loss of Hire that excludes machinery damage. TDI responds in three specific ways:
• Loss of Earnings
• Additional Cost and Expenses
• Contractual Penalties
• Storm, hurricane, tempest, flood, snow, ice, fog, lightning or any other
• extraordinary weather
• Earthquake, heave, landslip, subsidence or volcanic eruption
• Aircraft impact
• Capsize of Conveyance
• Emergency port closure
• Hulls perils - this can be substituted for Norwegian, Finnish or American hull plans depending on our client’s requirement.
• Abnormal obstruction of a berth *Master’s refusal -
• Border closure
• Expropriation
• Embargo
• Vandalism
• Loss of Earnings
• Additional Cost and Expenses
• Contractual Penalties
Perils that can be insured are:
• Fire or explosion on land• Storm, hurricane, tempest, flood, snow, ice, fog, lightning or any other
• extraordinary weather
• Earthquake, heave, landslip, subsidence or volcanic eruption
• Aircraft impact
• Capsize of Conveyance
• Emergency port closure
• Hulls perils - this can be substituted for Norwegian, Finnish or American hull plans depending on our client’s requirement.
• Abnormal obstruction of a berth *Master’s refusal -
• Border closure
• Expropriation
• Embargo
• Vandalism