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Costamare Inc. Message Board

  • jspsaki jspsaki Oct 12, 2011 11:48 AM Flag

    Who is their P&I insrance carrier?

    What P&I Club do they belong to?

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    • Not named. This may help from the 20-F.

      We will maintain, for each of our containerships, oil pollution liability coverage insurance in the amount of $1.0 billion per
      vessel per incident. In addition, we carry hull and machinery and protection and indemnity insurance to cover the risks of fire and
      explosion. Although our containerships will only carry bunker fuel, a spill of oil from one of our vessels could be catastrophic under
      certain circumstances. Losses as a result of fire or explosion could also be catastrophic under some conditions. While we believe that
      our present insurance coverage is adequate, not all risks can be insured, and if the damages from a catastrophic spill exceeded our
      insurance coverage, the payment of those damages could have an adverse effect on our business or the results of our operations.

 
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