Nature of risks to be insured:

The main object of the insurance hereunder is the performance of industrial and marine coating works on steel, aluminium, concrete, carbon fibre or Glass Reinforced Plastic surfaces. An additional object is the industrial and structural concrete repair using mortars and other insulation materials.

The objects being painted or coated for the purpose of protecting them from corrosion are

  • Commercial ships (incl. FSO’s & FPSO’s) & barges
  • Yachts (> 25 m)
  • Offshore structures & production facilities
  • Windmill farms
  • Storage tanks, water towers, containers, chassis-containers
  • Factories & industrial plants, power plants
  • Sluices & sluice gates
  • Bridges, viaducts, pipelines & tunnels
  • Big civil engineering projects

Exclusions: All works related to consumer goods for private persons, automobile construction activity, building / construction equipment or machinery, stability of buildings or structures, builder’s liability or decennial insurance (French décennale), any works in USA or CANADA, or supplied to these countries, unless the insurance policy is underwritten by a Policy Holder not domiciled in one of these countries, and with a Law and Jurisdiction clause stipulating European Courts, wooden or plastic structures, products used for trials, tests, experiments, new techniques, not having standards, certifications or other official accredited testing.

Insured Perils:

The principle perils insured are Corrosion, Detachment, Blistering, Cracking and Flaking.

Depending on the type of vessel or construction which is to be protected, further sub-classes of perils can also be insured such as Loss of Gloss, Loss of Colour, Loss of Hardness, Fouling.

There are numerous particular exclusions and exclusive definitions which delineate between substantial and relevant defects and avoidable and superficial ones which are not insurable.

Type of Client Insured:

  • Paint, coating & building materials manufacturers, producers & contractors,
  • Steel, aluminium & concrete manufacturers, producers & contractors;
  • Shipbuilding & ship repair yards,
  • Ship-owners,
  • Owners of industrial plants & factories,
  • Engineering & consultancy companies & architects, principals, state departments.

Duration of Guarantees:

Periods of Guarantees to be Insured: Between 1 and up to 10 years

  • For yachts (> 25 m): 1 to 2 years
  • For commercial ships, offshore & windmill farms: 5 years
  • For all other activities (industrial non-marine): 5 to 10 years (or 5 + 5 years)


The majority of the guarantee policies for 5 years or more are given with a sliding indemnity scale starting from the 1st year or from the 6th year. The sliding indemnity scale applies as a % on the repair cost and is a kind of depreciation of the maximum possible claim indemnity over the years, or as a kind of additional deductible after the 1st year. An example: 5 years with sliding indemnity scale 100 – 90 – 80 – 70 – 60% means that a claim in year 3 will be paid based on 80% of the repair cost.


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