Mortgagees Interest Insurance (MII)

Home Insurance Marine Mortgagee Interest Insurance (MII)

Mortgagees Interest Insurance (MII)

Please note: The information is a general description. For full conditions, premiums, subjects, and warranties, please contact your team Underwriter.

Mortgagees Interest Insurance (MII) and Mortgagees Interest Additional Perils Pollution Insurance

These insurances will protect a bank or lender's mortgage if the insurance of the borrower or shipowner does not respond.

Who can be covered?
Bank and Lenders

Limits: Maximum limit USD 100 million per accident or occurences

Deductibles: None

Important exclusions

  • Claims covered under H&M, Hull Interest, Freight Interest, War and P&I insurance
  • Legal costs
  • Insolvency of H&M, Hull Interest, Freight Interest, War and P&I insurer

 

Innocent Owners Interest  (IOI)Insurance

This insurance will protect an owner of a vessel that has been chartered out in a bareboat agreement. If the bareboat charterer's Hull and/or Increased Value cover would not respond, this insurance will offer protection to the owner of the vessel.

IOI insurance pays the owner of a vessel up to the insured value, subject to the policy limits in the event that the bareboat charterer's H&M, Hull Interest, Freight Interest or War insurers deny cover due to breach of warranty.

Who can be covered?
Shipowners
Mortgagees

Limits: Maximum limit USD 100 million per accident or occurrence

Deductibles: None

Important exclusions

  • Claims covered under H&M, Hull Interest, Freight Interest, War and P&I insurance
  • Legal costs
  • Insolvency of H&M, Hull Interest, Freight Interest, War and P&I insurer

Visiting address

The Swedish Club
Gullbergs Strandgata 6
SE-411 04 Gothenburg
Sweden

Postal address

The Swedish Club
Gullbergs Strandgata 6
P.O Box 171
SE-401 22 Gothenburg
Sweden

Phone/E-mail

Tel +46 31 638 400
For Claims and Underwriting, please see our Office contacts
E-mail swedish.club@swedishclub.com

Emergency

GOTHENBURG: +46 31 151 328
Athens: +30 6944 530 856
Oslo: +46 31 151 328
London: +46 31 151 328
Hong Kong: +852 2598 6464
Singapore: +852 2598 6464


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