The document summarizes various marine insurance coverage options from Sinarmas Marine for shipowners. It discusses hull and machinery insurance, agreed value policies, new for old coverage for partial losses, and deductibles. It also outlines additional coverage options, claims and surveyor services, premium calculations, and abbreviations commonly used in marine insurance.

1. Shipowners Gathering Plaza Simas 15 TH April, 2009 Safety Issues – Claims - Coverage Guest Speakers: Pak Guntur Tampubolon (PT Radita Hutama Internusa) Pak Alif Hastono (PT Abadi Cemerlang)

2. Sinarmas Marine Hull Capability

3. Simas Kapal - for owners of tugs, barges, and crewboats - less than 5,000 GRT First Choice for Shipowners with vessels less than 5,000 GRT Simas H&M - for owners of dry cargo vessels, container vessels, bulkcarriers, tankers and LCTs less than 5,000 GRT

6. Barge Built 2010 3,000 GRT Value US$1,500,000 @ 1% = US$15,000 premium Barge Built 1990 3,000 GRT Value US$500,000 @ 1.75% = US$8,750 premium Claim for grounding = US$100,000……? We need to charge a rate of 3% on the old vessel to get the same premium as the new vessel…….. THE IMPACT OF NEW FOR OLD

7. The market practice is to charge 1% of H&M value……….but look at what this means: Tug Built 2010 300 GRT Value US$1,500,000………deductible 1% = US$15,000 Tug Built 1990 300 GRT Value US$500,000…………deductible 1% = US$5,000 DEDUCTIBLES

9. DISBURSEMENTS

18. MORTGAGEE’S INTEREST Often referred to as the “Innocent Owners” insurance

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