Marine Insurance

Marine Insurance was the earliest well-developed kind of insurance having its origins in the Greek and Rome. In Bangladeshi context marine insurance is very much relevant since Bangladesh is a maritime nation and the sea ports are busy with loading and unloading cargos carried by local and international flag bearing vessels. International flag bearing vessel owners cover their risk by becoming member of international P&I Clubs i.e. London P&I Club, UK P&I Club etc. Besides cargo owners also cover their risk by insuring their cargo from different global insurance companies i.e. AIG Marine Industry, AGCS Marine Insurance, UK Maritime Insurance Service, Marsh Cargo etc. On the other hand, Bangladesh flag bearing vessel and Bangladesh cargo owners/shippers cover their risk mostly with local insurance companies.

It is not very uncommon that due to collision, false delivery of cargo, local and international embargo etc. both P&I Clubs and insurance companies are required to step in rescuing their customers mostly in Chittagong Ports & also in other international ports,where cargo/vessel are from Bangladesh or destined to Bangladesh. The insurer not only involve in investigation but also assist their customersat different level.

“Their response times are excellent and they make you feel generally very well informed.”

Chambers and Partners, 2018

The ‘very responsible, responsive and knowledgeable’ Mohammed Forrukh Rahman heads the firm

Legal 500, 2018

The Chambers Marine Insurance practice commenced when Mr. Mohammed Forrukh Rahman successfully represented the Central Bank in international trade disputes involving loss of cargo due to false delivery in the land mark decision reported in 2 CLR (HC) 586; 19 MLR (HC) 336.

Over the year our Supreme Court Team represented clients in Admiralty Court of the Hon’ble High Court Division on issues involving several insurance claims where the incident took place within Bangladeshi territory and also in other territories. Our experience includes as follows:

  • We represented owner of M.V. MARINA R in a collision claim arising within the territorial water in Bangladesh. We were able to successfully released the vessel under letter of undertaking issued by London P & I Club. The Admiralty Suit filed by our client and other vessel were finally withdrawn through out of Court settlement with our active participation.

  • We represent UK P & I Club and the owner of M.V. SUPRAMAX VIVI in another collusion matter arising within the territory of Bangladesh. A very first suit for limitation of liability is also filed by our firm which is now pending before the Hon’ble Admiralty Court.

  • We successfully released M.V. MAGNUM FORCE for owners and UK P & I Club in a sensational collusion incident with Naval combat vessel of Bangladesh NAVY namely BNS SAMUNDRA AVIJAN & BNS PROTTOY by submitting local Bank guarantee define several obstacles.

Our service includes:

  • Marine Insurance (H&M)
  • Risks Protection & Indemnity (P&I)
  • Damages to Cargo and Ship
  • Carriage of goods by road/air claims
  • Multimodal transport claim
  • Reinsurance
  • Assisting investigation as per the client’s requirement
  • Representing clients in coverage of disputes and providing opinion on policy coverage; and
  • Representing clients before all level before Court, Tribunal, Arbitration or Mediation.

Our Related Lawyers:

Our Clients:

  • London P&I Club, U.K.
  • UK P&I Club, Greece
  • Atrium Maritime S.A. of Athens, Greece
  • Sea Satin Ocean way S.A. of Liberia
  • Momentum International Trading Inc., Monrovia, Liberia
  • A.P. Moller Maersk Line
  • M. V. MARINA R