Globalstar Insurance Brokers Limited, established in 2006, is a specialized Insurance Broker and Risk Advisor, regulated by the Superintendents of Insurance in Cyprus and the European Union and is licensed to provide a wide range of insurance products and services within specific industry segments and specialities.
We specialize in marine insurance blending together our knowledge, network and together with our Team’s efficiency we offer tailored made solutions to our clients.
Globalstar Insurance Brokers Limited is managed by a group of highly qualified professionals in the insurance Industry, with strong commitment to our client’s needs.
With the aim of providing clients the best solutions to meet their expectations for their unique business needs, Globalstar Insurance Brokers Limited will be able to secure competitive terms and create solutions for each client and ensure highest levels of service throughout the policy of each risk.
Globalstar Insurance Brokers Limited is committed in providing excellent, personal and professional service to every customer. The uniqueness of each business’ operations is appreciated and close relationship with each client is established in order to understand their specific needs.
Working with leading providers of insurance, re-insurance and risk management services and in association with them, competitive products and solutions can be offered to the following industries.
Hull & Machinery / Ancillary Interests
Hull & Machinery insurance cover vessel damage, total loss and collision liabilities (RDC / FFO). Tailored made policies for the uniqueness of each client where the policy form will be carefully selected and negotiate the best suitable terms. Our team has deep knowledge in ITC, ADS/DTV, Nordic Plan and AHIF.
Ancillary Interests is an additional insurance which covers additional costs arising from the total loss of a vessel but also other interests such as equipment, disbursements, stores etc. This insurance will also cover financial interests in the increased value of the vessel relating to earnings’ potential.
Protection & Indemnity
Hull & Protection & Indemnity insurance provides cover for third party liabilities, costs and expenses associated with the vessel operations such as cargo, crew liabilities (injury / loss of life), collision liabilities, war risks and other legal and tortious liabilities.
The P&I insurance is provided mainly by mutual insurance associations (IG Clubs) and also fixed premium Clubs. Most of the Clubs can also offer defence cover for legal costs i.e. Freight Demurrage & Defence (FD&D).
War Risks and Kidnap & Ransom
War Risks insurance covers Hull and P&I risks of the vessel due to war and war related perils. The cover can be extended and tailor made for client’s needs and fleet profile, whilst offering competitive terms and wide coverage.
Kidnap and Ransom insurance provides coverage to vessel’s crew and vessel itself in case of piracy event where ransom and other expenses are incurred in such incident.
Our team can address the risks of companies with international import and export trade, and coverage can be provided includes but not limited to the following:
- Transit insurance including road, rail, sea, pipeline, air, barge, and post.
- War and strike risks,
- Storage, stock throughputs,
- Political risks,
- Contractors working equipment,
- Consequential loss (marine business interruption or projects)
- Trade disruption,
- Cable laying and maintenance
Loss of Hire / Strikes Cover
Errors and Omissions (Professional Indemnity)
Yacht – Megayacht Insurance
Insurance covers for 3rd party exposures such as:
- Charterers liability,
- Port risks,
- Ship repairer’s liability,
- Towage liability,
- Political risks,
- Port & terminal operators,
- Freight forwarder’s liability,
- Ship agent’s liability
Other Marine and Special Covers
We have the expertise and knowledge to arrange marine insurance policies for any other marine risk such as:
- Cyber Risks,
- Delay in delivery,
- Construction / Conversion & repair risks,
- Mortgagees’ interest & mortgagees’ additional perils,
- Shipyards & related risks,
- Offshore related risks,
- Specialized coverage for Crew and other employees
Tel: +357 25 314416
Fax : +357 25 314417
Mob : +357 99 523556
258 Leontiou Str.
POBox 51895, 3509 Limassol – Cyprus