What are the most common claims that are made under the policy?

In our experience, the vast majority of the claims that we see begin under “Basic Coverage” for License Protection & Defense and are related to vessel collisions, allisions, groundings, etc. We’ll receive a call through our 24/7 claims hotline from the policyholder informing us of an incident or casualty involving the vessel they were working on. They will be immediately connected to an admiralty attorney who will guide them through the initial questioning from the U.S. Coast Guard or other governmental authority. Most of these claims are resolved quickly with defense costs typically under $10,000. If the situation develops further and the policyholder must appear at an Administrative Law Judge proceeding, a local admiralty attorney will accompany them to all hearings until final resolution. In these cases, claim costs can run into the tens of thousands, particularly if expert witnesses are provided. Claims for Civil Legal Defense and Civil Liability (optional coverages that can be added) occur less frequently but have the potential for much larger claim amounts or damages. In the event that the policyholder is unable to work due to a license suspension or revocation or must work below their license rating due to a reduction in grade, loss of income coverage (if purchased) will provide up to twelve months' compensation. (NOTE: All of the examples above are for covered claims. Consult the policy terms and conditions for coverage specifics.)