MarineLine® E-Newsletters

Profitable Tanker News about Marine Cargo Tank Coatings
Issue 22
Helvetia Insurance ProgramPresenting the Helvetia Insurance Program for MarineLine® Cargo Tank Coatings

Advanced Polymer Coatings (APC) has partnered with Helvetia Group, the large and well-known Swiss-based insurer to develop a specialized insurance program to warranty the application and performance of MarineLine® cargo tank coatings.

The concept is simple:

1 APC will work with the shipowner to determine a warranty program for the MarineLine® coating, for up to 5 years.
2 APC will pay Helvetia for the insurance policy for that period of time, naming the shipowner as beneficiary.
3 If any problems arise during the performance timeframe, the shipowner deals directly with Helvetia for resolution and is paid directly.

Helvetia Insurance ProgramHow This Insurance Help Shipowners

This insurance program is unique in the industry. It affords the shipowner and/or ship operator ‘peace of mind,’ knowing that the MarineLine® cargo tank coating is covered for the specified warranty period. Helvetia has a long tradition in the insurance field, protecting a wide range individuals and businesses for more than 150 years. Helvetia has a thorough knowledge of MarineLine® coating and its performance on more than 600 chemical and product tankers operating worldwide.

Why APC Developed this Insurance Partnership

MarineLine® customers asked APC for an ‘independent insurance provider’ for coverage of the tank application and coatings. APC listened, then carefully researched and vetted various insurance companies. APC selected Helvetia based on the company’s strong understanding of shipowners and their specific needs. With the Helvetia program, APC offers customers a true ‘turn-key’ solution, from the sale of the MarineLine® coating, to the application, heat curing and inspection of the cargo tanks, and now… independent insurance coverage for up to 5 years. This Helvetia insurance program is exclusively prepared for MarineLine®. No other coatings company offers a protection program such as this one.

Details of the Helvetia Insurance Program

This insurance program is only offered by Helvetia for new, completely coated MarineLine® tank(s) for newbuilds and/or for complete re-coating projects. It is NOT intended for any existing MarineLine® coated ships already in service nor for partially repaired or recoated MarineLine® coating sections in cargo tanks.
In the event of any questions or claims regarding the MarineLine® coating in service, the shipowner contacts Helvetia directly. The insurance company then takes all necessary actions. APC is not involved in this process. If a claim payment is indicated, this is made directly to the shipowner.
The length of the insurance warranty can be offered from 1 year up to 5 years.
APC pays 100% of the policy’s cost to Helvetia. The policy names the shipowner as the only beneficiary; thus any claim payment is paid to the shipowner.
Helvetia only insures applications where the yard and applicator/subcontractor are approved by Helvetia.
Shipowners are already signing up for the new Helvetia insurance program for their MarineLine® cargo tanks.

To learn more about the Helvetia insurance program for your MarineLine®-coated cargo tanks, contact your APC representative. We will be pleased to present the program to you with all the necessary steps, conditions and terms.