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Vessel Grounding Due to Heavy Storms

Vessel Grounding Due to Heavy Storms
  • Vessel grounded in heavy storms in Colon, Panama
  • AqM immediately notified H&M and P&I insurers; cover was confirmed the same day and surveyors were at the scene within 36 hours
  • Owners preferred salvor was appointed under a Wreckhire Agreement with insurers putting up c.USD1 million guarantee to cover the salvage operation
  • AqM had various discussions behind the scenes with the Local Administration to ensure the necessary permissions were not inhibited
  • AqM’s local office participation resulted in local subcontractors being appointed ensuring prompt and efficient delivery of service
  • Claim negotiations with salvors resulted in the settlement of services of c.USD900,000 apportioned between H&M and P&I insurers Owners recovered out of pocket expenses in full.

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We focus on our clients’ needs with the aim to
minimize risk. AqM will go beyond the usual
boundaries of the standard insurance broker;
we combine knowledge, flexibility and progressive
thinking to achieve transparency for our clients.

CONTACT US

LONDON OFFICE
The Baltic Exchange, 38 St Mary Axe, London, EC3A 8BH, UK
info@aqmltd.com

PANAMA OFFICE
77th Street, San Francisco, Bldg 26,
Panama City, Republic of Panama
info@aqmltd.com
Direct dial from Panama + 838 6053

 

CLAUSES & PROPOSAL FORMS

For your information and convenience we have published a number of Insurance Clauses, and Proposal Forms for you to download to view or print.

AqM is Authorised and Regulated by the UK Financial Conduct Authority (FCA) – 311727
Republica de Panama Superintendencia de Seguros Reaseguros ROC (Registration Number) – 002