MORTGAGEE INTEREST AND MORTGAGEE INTEREST- ADDITIONAL PERILS

MII provides cover in respect of perils which are covered by the vessel’s policy (and / or club cover ) but not paid for one of the following reasons.

- Breach of warranty, Unseaworthiness, breach of warranty, non- payment of premium, class and or ISM breach, misrepresentation, etc.

In addition to the above, MII policy responds at situations where a claim under a Hull policy not being proven to be caused by a peril of the sea, where vessel sinks and the cause is not proven, disputes between Hull and War underwriters and also time barred claims.

 MII-Additional Perils

Responds to situations and liability claims –pollution – for an insured peril, where Owners pandi policy limits are not adequate. Particularly important where Shipowner has arranged a “fixed premium” pandi insurance for limits less than available from a mutual entry in an IGA club.